Is Social Media Experience the Search Engine Consolidation?

Just 5 or 6 years ago, there were advertisements that littered the internet for businesses to "get listed on thousands of search engines." The statement seems ridiculous now as there are only (arguably) three that mean anything. The traffic shifted from thousands to hundreds, from hundreds to 5, then 4, and now 3 (and technically only 2). Are we seeing the same type of consolidation happening now in social media?

Despite clear differences, search engines and social media converge on many of the same fronts. Facebook has been rumored to be working on a search engine of their own for over a year. Google now has its 1st valid social media contender. Microsoft is integrating social media into its search and is rumored to be working with Facebook on expanding on their relationship.