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It's not OK. Facebook didn't have any meaningful competition to hold off. Everyone hated how shabby myspace looked and people were hurting for ANY alternative and Facebook got that wave. Google has to not only make a deep system with API's and other features from the get-go, but they also have to show that their platform is worth switching over to from Facebook which does have those things. The job will be much harder for G+ to get that social gravity that Facebook got and still has. Yegge is right.. Google can't afford to piecemeal this out.. or they won't have anyone paying attention to what they do piecemeal out to G+. It needs to be deep, solid and useful. Right now it's an interesting diversion and not much else. There's nothing about G+ that makes you think "Yeah this is worth moving over for and i know my friends will come too". That alone is the biggest nail in the coffin they should be trying to avoid.
3 years ago on Google Engineer: "Google+ is a Prime Example of Our Complete Failure to Understand Platforms"