Now that they've cut off the Knol thing, I am wondering what Google will keep. I just did their new thing with www.haroldasmis.ca but I don't know what to do with it. It appears to be a tightly controlled web site by Yola, and you fix it up with their tools. I think Google does the storage, but I don't know what the limits are, and I don't know how this relates to Google Sites, since they are calling it the same thing.
But then I realized that Google has been a social network all along. They make their money serving up sleazy "Rent a Girl" ads, but how did their search algorithm actually work? It depended on the hard work of others who put up 'thoughtful' links. G depended on the whole universe of blogs, web sites, and Wikipedia. When I wrote an article, I carefully scanned everything and came up with a few good links, and G snatched those up. Now that everybody wants to play the system, they rely on this content creation more and more.
I've concluded they have a very heavy weight on my stuff, and will want to keep Blogger and Sites up, at least. When I could never see anything from my knols, I just put in a link, and poof! the next day it was at the top of a search.
G has a serious threat from 'walled gardens' such as Facebook. If those people do all the hard work of vetting links, who can G sponge off of? So, I think for a while, they will be putting billions into content creation that they can scan.