Of course, the implications of this are huge. The article points out that if the ruling is upheld, companies could conceivably forbid search engines to index their web sites. From there, it's only one step to a company demanding money from a search engine company for the "privilege" of indexing its site.
Fortunately, this isn't settled yet. A group of law professors has filed a brief urging the Court of Appeals to overturn the decision; hopefully the intervention of people who actually understand how the web works (and how this decision would completely destroy it) will prevail here.