Ah, but how are people going to _find_ this information in the first place? Links don't just grow out of a vacuum. Someone searched for it _then_ curated it.
And, really, if Google wants to own the _future_ of consumer "information sharing" in this era, they don't have to become a lumbering Facebook me-too clone. Just buy Twitter (be ready to pay a soul-crushingly high premium for them, though). Boom, they'll now have 4 of the top 10 global Alexa ranked sites (after Google, Youtube, and Blogger). Integrate them all with some non-trivial alchemy, and you'll rule the Internet.