Actually I was talking of something like a Youtube API or something similar. API's do matter a lot. Imagine a company like Facebook, I would reckon API's are crucial to many aspects of their business.
My point is if the API becomes crucial to your business than the company begins to perceive it as their cash cow. If my company looks at Java as a business I would be equally scared watching clones spring up here and there.
Java today is Intellisense + Eclipse + API. That is all that remains of Java. By the way, I don't agree with Oracle either. I am just trying to think from their perspective. How can they justify investments in Java if there are no clear profits? After all the purpose of business is to make profits. The only other option I see is making Java a paid platform. That is not great for computing either.