The analogy is not perfect, but there aren’t myriads of parties, there’s basically only Google, plus a handful of others of greatly decreasing importance.

If it was a reputation problem where, say, end clients with web browsers would each have a separate and uniquely derived negative opinion about domain names, this would indeed be a “bad reputation” problem and not a Google problem, since the problem could not be fixed at the Google side. But with domain reputation being so centralized, the problem is at the center.