Sure, I agree in principle. And I suppose if IBM management thought that was the right avenue for them to grow, they would do it. I just haven't seen much to make me think IBM have any interest in the consumer space at the moment. That could certainly change, but I personally wouldn't bet on it happening anytime soon. But, weirder things have happened...
As well the time to challenge Google was 5-7 years ago, when they where at their peek of dominance.
The way people consume information on the net is changing and even Google has to figure out where the chips are going to land. I am not saying Google is going to be irrelevant tomorrow or even that they will be relegated to a niche player just that their search crown gleamed a little brighter a few years ago.
If IBM's history is any indicator, they would rather license the technology to Google than to dilute their business model with consumer facing technology.