BOL, well, they have to start somewhere. In their FAQ they say that the search is still incomplete. I think there is definitely room, with the market as big as it is and there being so few players these days. The few tests I did seemed not too bad.
An interesting thing about the SE business model is that server infrastructure is much more a factor of user level than the size of the data being queried. So, in theory a good search engine could be started on a budget and then the hardware could be expanded as the user base grows.