Actually, the subject of this thread is Bing, or at least it was until you tried to make it about Google. Also, I'd disagree that Bing represents an "exponential technological leap," since it's returning pretty much the same kinds of search results that Google and Yahoo are. It may be a better me-too product than earlier Microsoft search products were, but it's still a me-too product with a few cosmetic enhancements.
IMHO, Bing will never a serious threat to Google for the same reason that Google's Android and Chrome OS aren't likely to be serious threats to Microsoft: Those products are sideshows to each company's core products. In the case of Bing, is the question of whether Bing has 10 or 20 percent of the general Web searches as important to Microsoft as, say, whether Microsoft has a presence in social networking, "cloud computing" apps, or new CPU-powered devices that don't fit under the current headings of "desktop" and "laptop"? Probably not--and that's why Bing will remain a sideshow to Microsoft's core software-related businesses, just as Android and Chrome OS will remain sideshows to Google's core search-related businesses.