Social Media- Will Google ever get it right?

Google seems to have succeeded in all of its endeavors except for social media. Its most recent attempt was with Google Wave which in all honesty, is very crappy and not so intuitive, at least in my view. All may be about to change, thanks to Google’s plan to integrate status updates-like services into Gmail.
If there is one service of which Google is jealous, then it is Facebook. It seems no matter how hard Google tried in the past, it never succeeded at beating the 25 year Zuckerberg. However, I think what has prompted Google to take a preemptive action is the fact that Facebook is actually in the process of launching a full featured webmail service.
Gmail no doubt is the most intuitive webmail service on the planet, but to have the most popular social media service make an incursion into Google’s arena would very interesting. What I am wondering is how come Google with all its clout is yet to make any meaningful impact in the social media arena?
How come we’ve got services like Twitter and Facebook suddenly zoom past Google leaving the latter in the dust? This new service that Google is planning to implement in Gmail will be a welcome news if only it will actually like more like an aggregator for my other social media services. 
It would be interesting to see how this turns out. Orkut and Google Wave in recent past have proven that Google seems to be clueless about when it comes to social media. Is that about to change? One can only wonder and wait?

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