Google gets paid for clicks but most (or at least many) people bid on conversions, for those people it doesn't matter if google delivers 100 clicks at $2 per cl

Google gets paid for clicks but most (or at least many) people bid on conversions, for those people it doesn't matter if google delivers 100 clicks at $2 per click, or 4 clicks at $50 per click as long as they get the same number of conversions, so to this extent the CPC doesn't matter. Similarly, I could care less if 50% of the clicks are fraudulent. As a buyer what I'm judging at the end of the day is if I got the value I wanted for the price I paid. Clicks don't map to value very well, conversion actions do. Plus, it's not like if there was no click fraud that the auction becomes magically transparent, it's still as opaque as it was before, so really this is the only rational way to purchase ads (off of some basis other than "did the # of clicks meet my expectations?")