Time Bray has it right. In the future, every site can carry search. All Microsoft has to do is to give the revenues from any potential search to the site carrying it. Two big assumptions:
- MSN Search has to be as good as Google search (not there yet, but possible)
- Microsoft is willing to forego the Google ad revenue stream in exchange for severely crippling Google. Right now, it seems like MS wants the revenue stream rather than to eliminate it, but that seems unlikely.