Although we are not going to see Facebook as the top search engine, I think they have the right idea for the capabilities they have. If in social media the top searches are other users and their photographs, why not continue to work on those queries to make people searches easier. Google may be able to give you a list of information, but Facebook has its own specific strengths at finding people.
In a way the idea of graph search ability seems similar to LinkedIn. They want to create a social graph that could better allow for users to search their friends by activities and photos. In the end I think it is a right choice for Facebook to expand what they are doing without going underwater trying to compete with Google.
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