See, reading that passage from the book enlightens the major problem with Raimi's take on Spider-Man (which I still love, regardless). While I'm no fan of the Vulture, it bothers me that he essentially dismissed the idea simply because he couldn't establish a connection between the villain and Peter. It's not necessary.
Raimi is way too hung up on these personal connections. They're great when they work (Goblin, Ock) but sometimes are really stretching it (Sandman). There's nothing inherently wrong with having a villain simply be a villain, an antagonist for Spider-Man. Someone he's just trying to stop, to throw in jail, someone inherently bad that he comes in conflict with simply because they are a criminal and he is a crime fighter. He could've made SM3 a leaner, better movie by throwing out the manufacturer hero-villain connection (Sandman) and focusing on one that has existed in the lore and makes sense on its own terms (Venom).