I think OP's idea is that search services would be built into the Internet, and not provided by a third party. That is, when a website is published or updated, it is somehow instantly indexed and made available for search as a feature of the platform on which it was published.
Not a chance it would survive. Google has enough problems fighting SEO right now and they don't publish their algorithm and have incredibly deep pockets.
Personally, I don't want "The page rank algorithm" I want 100 page rank algorithms made by 100 people. Transparency is important, but I think competition is more important.
