For exploits like that, the black market still pays somewhat better than Google is.
Yes, but if you get caught, you can lose anything you got paid (as the profits of crime) plus go to jail.
Whereas if you sell to Google, you get money, publicity that you can use openly outside of the black market world, and you don't have to worry about going to jail for it.
Also, some people have moral codes which would discourage selling exploits on the black market, but not seeking rewards through something like Pwnium.
Source: http://rss.slashdot.org/~r/Slashdot/slashdotScience/~3/TSkprPKYbgk/story01.htm
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