They need a revalation. With that revalation, they can pwn Google.
I think they just need to integrate business into their site somehow, some way facebooker's can 'search'. Maybe a directory, maybe a searchable list of facebook-approved businesses. something. They just need two things:
- facebook visitors stay on facebook
- the traffic isn't general ad traffic like it is now, instead a seperate section facebookers go to when they are explicitly searching for something business related. Get rid of the traffic from people not intereseted in your ads, and get the people just looking at research. This is the difference with traffic from Google - they're seeking something when they search, it's very targetted.
I suspect facebook is heading in this direction somehow. It's still got potential to be a gamechanger, just not in it's current format.