Did you wrap quotes around your search terms? Otherwise, it's searching each world separately. Either way, I stand by my opinion, and judging by the search results, so does most of the internet.I think it matters more what people were saying at the time, because they were on top of the situation.
Hulu is a competing revenue model to iTunes (ads vs. per item). I don't see why you're being so argumentative about this. I agree that Hulu is a nice site, and indeed, I use it quite a bit, in fact, I think it's fair to say that I've not purchased shows via iTunes because they're available on Hulu. That's competition!
Hulu could make their videos available in a format usable on the iPhone if they wanted to, just as YouTube did.
Also, on the Google numbers, try the search again: Hulu vs. iTunes = 141,000 results; Hulu vs. Youtube=483,000. (I agree that Hulu vs. youtube gets more, but not as drastically as you suggest).
"Hulu vs iTunes" -- 4 results
"iTunes vs Hulu" -- 74 results
"Hulu vs YouTube" -- 4,220 results
"YouTube vs Hulu" -- 8,530 results