I don't understand why there is a deal at all. Why isn't the situation simply that Google indexes things (like tweets) unless they have a rel=nofollow?
It's not easy to index find that much fresh data in anything resembling real-time. And with real-time data, seconds and minutes matter.
If Google could have access to FB/Twitter content with consent, they would index and serve those results as well (it's fundamentally better for the user AND google).
This whole thing is getting blown way out of proportion because people like to see giants fight.