It certainly sounds promising, but I'll be interested to see what actually happens — the real world can be an unforgiving place when it comes to actually implementing technology on this kind of scale.
Making the data intelligible and manageable for consumers will be a serious hurdle. I'm sure it can be done, but it will need companies like Google to handle the scope and scale required, and the bandwidth requirements.
Absolutely do-able, I'm sure. But lots of teething problems in the early stages.