Even Google knows that's dangerous.
Just like we come to HN for discussions, which our social circle on FB is not able to satisfy. Similarly, people will continue to go to the best search engine for searching for information.
Even today, if you want to get an overall sense of what people are thinking in general, you go to twitter search. Facebook you mostly search for persons, and what they are doing. It will be very difficult to change that.
PS: I realize my first para is speculative. And the rest is opinion.
There is no reason why Facebook can't become that. If Apple can make phones and Google can make phone OS. If Microsoft can make gaming consoles.
There is nothing stopping FB from doing it.
Google put G+ on its home page, with not much success. Similarly, why should FB get a leverage out of just putting search on its home page. Unless the search is really better than Google's. What advantage FB has over say blekko in competing in search?
IMO, its like this. We spend a lot of time here on HN. Just like a whole lot more people do on Facebook. But we come to HN for a specific purpose to engage in these kind of discussions. Just like it will be difficult for PG to convert this into something else which makes more money (PG gave the example of a market place), I think it will be no simpler for Mark Zuckerberg.
PS: This was my take on FB, before the IPO http://news.ycombinator.com/item?id=3949048