Yep. And kudos to them for trying to be the best they can be.
Even the folks at Google know they can't come up with a single perfect search result, even if they know your shoe size, your annual income, your favorite political sites, and the fact that you've looked up "Natalie Portman" and "rehab" and "crystal meth" at least once a week for the last year. Why? Because when you search on "ford," there's no way a search engine can know for certain that you're a Republican with a fondness for dead U.S. presidents who has no interest at that moment in a Focus, a Taurus, or an F150 pickup.
Of course, it's possible that Mr. Schmidt's dream of perfection is based on a scenario that doesn't require mindreading, such as answering questions like "How do I get from Charles de Gaulle to the Paris city center by train" or "I need help with a stuffy nose." In Mr. Schmidt's perfect world, users may not be forced to search on keywords or keyphrases, and search engines may not be forced to make judgments about what people are really searching for.