Jonathan Salem Baskin , writes about Facebook Graph Search for Forbes:

Graph Search promises to let us search through our friends’ likes, photos, locations, and any other info they’ve prior elected to share with us and/or the world.

This sound nice in theory but he hits the nail in the head:

Your friends list may not be the best place to look for restaurant recommendations or movie reviews, since you didn’t aggregate them based on what expert services they provide to you.

The real reason behind this new tool?

Think of it as a proprietary, closed database that’s an alternative to Google, Bing, or Yahoo. It’s probably a first-step in a longterm plan to turn the postings of its billion users worldwide into a giant closed database that will compete with those older services (not to mention services like Yelp, which is already crashing on the stock market).

Yep, we’re Facebook’s product. And as a thank you gift we’ll get a bigger quantity of highly targeted advertisements.