What's sort of interesting about that catalyst of “steady weakness in the daily numbers” is that it didn't equate to a plateau, decline, etc...
It was that the ad dollars weren't, for the umpteenth time, exceeding YoY growth that far exceeded the growth in eyeballs watching/seeing ads. They were just somewhat exceeding the already meteoric growth of the web in general.
Google had unrealistic expectations in sustaining that growth rate because they started off with no ads, then very unintrusive ads, then somewhat instrusive, and so on. And, at the same time, leaps in A/B testing, targeting, bidding, and so on.
Until there was no more space on the visible page for ads, and little more to optimize for bids, views, targeting, etc. Then the growth fell back from crazy high to just amazingly high, and everyone lost their minds. Like it was a surprise.
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