You can use a “squeeze page” as a landing page for the Content Network, providing that your “Squeeze Page” delivers on the implied offer in your ad text and that you are following all other AdWords guidelines.
In other words, the original concept of a “squeeze page” must be adapted to meet all of AdWords’ guidelines for quality landing pages.
You don’t need a blog, but you do need to have links to other pages: About Us, Contact Us, Privacy Policy, Terms of Service and you will need to link to additional content relevant to your advertised keywords to earn a decent Quality Score.
These links can be small print discreetly placed in the page footer to maintain much of the “squeeze page” effect, but they must be present to meet quality guidelines. Your additional relevant content links can be to other websites like Wikipedia or other reference type sites.