Facebook Graph Search Beta - A Mistake or Genuis Move?

So yesterday Facebook held a mystery conference introduced their new Graph Search Beta where people can use their existing social graph to search for things like: "Friends who enjoy hiking".  When I heard this announcement I thought to myself - wouldn't people already know if their friends liked hiking? Why would I as a Facebook user need to use this tool to search for that info?  As a Marketer, I conceded that this could be useful (searching for Friends of Friends who live in a specific geographical location and enjoy certain pastimes) - but we also have insight tools for those sorts of searches/targeting, so maybe not ...

I am a bit skeptical of this move and will need to watch the developments closely before making up my mind - I'm not entirely in the 'creeped out' category... but for some reason this feels a bit more invasive than what Google does in regards to integrating social with search results -not sure why - could be simply because i'm *used* to Google ...  it will be interesting to see how it plays out and if Bing ends up coming out as the big winner here.

What do you think? Is Facebook on the cusp of genius here - or are they making yet another mistake?
  

Facebook Graph Search Beta Screenshot