Well, I don't think there would be a problem if the ad title said 'Google Chrome'. But having a title like 'Internet Explorer 9' point to the chrome download page is misleading in my opinion. Same with a Jaguar ad if the title said "BMW", except of course you're not browsing in Jaguar's search engine
I want to know how widespread it is though, because apparently through Asia you get it, but if you proxy through the US you don't. And a friend in Australia didn't get it either.
Also, I tried the search on Mac and I didn't get the ad. Just Internet Explorer 9.