Google has managed to capture investor attention as well as the working technology sector without even releasing the product/service public access. Google is now officially in eyeball deep on the social media experience. So, Facebook, Twitter, friendfeed, and all their budding competitors (friends maybe) are in competition with Google. Nobody likes that, I assure you.

The question on everyone's lips is "what does this mean for X social networking website?"

Answer: likely less than you think.

Social websites often bring forth their own unique branding and loyalty for reasons most logical people find difficult to understand. Having the better mouse trap doesn't mean you capture market attention. People will use Google's Wave product because it's Google. But, as of yet nobody has abandoned Twitter for Jaiku, and it's faster, cleaner, more reliable, and is open sourced.