Yeah, but with Squarespace you actually have to do the work of building and updating your web site. I'm proposing Google, for example, use a mix of algorithms and design to expand that "info box" you get when you search for Willy's Pizza or Suds Laundromat into a full site, and sell it as a turnkey solution.
"Here's your (crummy, last-updated-2011) web site today, and here's the beautiful one we've already built for you, including full online reservations and take out ordering. With just a few clicks you can customize it with photos or a new menu. Pay us $NN/month and we'll immediately switch your domain to point at this shiny new site."
Squarespace could move in this direction, too, by continuing to specialize and extend its templates until a good looking, functional site takes an average of minutes. But Google has the advantage of already knowing enough about the average small business to build it a better web site in literally milliseconds.