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It will be better than Google at doing that - but not better at actually finding things (movies, macdonalds, that kind of thing).
And there are some who suspect the whole thing was an April Fool's joke.
I'm tempted to think that as well since they came of blazing with a press release quoting the French president and claiming they where going to beat Google.Probably found out that it was very easy to start a search engine and do the first index but it is bloody hard work keeping it updated and finding new websites. Though the whole thing was a bit muppety from the dodgy name to the boom and bluster press releases.
We haven't heard much from them since..