I think Google or anyone else should man up and "invent" something that can compete on a quality level with Facebook.

Facebook is like Hercules, very strong, but not immune to death, still a mortal. In other words Facebook did not max out the capacity in social networking.

Something like Diaspora may be a step forward, I think it's kind of creepy for Facebook to know all my social stuff.(The main reason I don't do much on Facebook).

TL;DR: There is still a chance to do better than Facebook.