Google+ seems like a "reaction" to Twitter/Facebook. But are you starting to see the ways that Google+ just makes Google a better, more integrated set of services? Google already has top-notch products in key categories--photos, videos, office productivity, blogs, Chrome, Android, maps and (duh) search. Can you start to see/imagine what Google+ does for Gmail? Picassa? Youtube? Not to mention search? The +1 system that Google now has control of (unlike Facebook Likes) can really influence and change the nature of their search.
My original vision for MS was that everything got better when it was social--so I tried to build all the super popular things used on the web (blogs, music, classifieds, events, photos) on top of MySpace's social layer. When Yahoo launched 360, MSN launched Spaces, and Google launched Okrut, I was shakin in my boots. But quickly I saw that it's really hard to layer in social to features after the fact. At MySpace we had the luxury of having social first, and building the products on top of that layer. Then I choked and Facebook realized that vision. ;-)
But Google+ really seems to be primed to make good on that original premise--that everything gets better when its social. And unlike FB, Twitter, or anyone else, Google already has the most advanced set of products. And if I can clearly see where this is headed, then I think what we are getting is a much better Google. Does that kill FB/Twitter? Who cares? I'd use all 3, but more importantly, I'll be using Google products I never used, or use them in new, better ways I never used them before.
Oh yah and I love my Google TV :)