I'm sorry, but this is the biggest line of bullshit I've seen in a while. Here's the thing: no one saw Google early on. Google happened, more or less, organically. They implemented a better algorithm and gained a lot of users by providing better results.
Color appears to be Instagram + location awareness. Awesome. I can't wait to use it, but to call it "Google" is just ridiculous.
I'm skeptical that this product is even going to be a success -- if I'm 150' from someone, why not just walk over to them, snap a group photo, and post it to my Twitter/Facebook/Whatever -- and even more skeptical that someone like Facebook won't clone the idea, roll it out to their 500 million users. Instagram already supports location detection. How long until "near me" shows up as a feed option?
Here's the real rub. Currently, there are 143 one & two-star reviews in the App Store. There are 49 four & five-star reviews. That's not good. Anyone claiming this is the next Google is either straight up lying to generate interest (It's the Next Google!™) or has no idea what they're talking about.