Since Google acquired Performics, an affiliate network, I’ve read some opinions on how "this will change the game" of CPA networks quite significantly.
In my humble opinion, they’re just building a better AdSense and they won’t compete super-directly with CPA networks. CJ doesn’t get advertisers who know what they’re doing as well as CPA networks like AdValiant. CJ, for a significant part, attracts advertisers who throw up offers without thinking about how well it will do for their respective publishers.
So, I think they’ll just be like CJ with way better publisher capabilities for website owners open to get paid in a CPA as opposed to the traditional CPM/CPC.
AdSense is facing increasing threats from niched offerings like video ad services, contextual, and niche-specific ad platforms to help publishers monetize inventory. So, good move for them. This is what I tested on Banzza.com and rotated through an open ad server; however, it was too time consuming.