Leaked internal Yahoo documents indicate that "Project Index" is actually a revolutionary new way of algorithmically rearranging the deck chairs on the Titanic.
The problem with reinventing itself a la Google is that it is not visionary. Bing did this and where is it? Now they could do this and go head to head competitively on the best results but by then the world will have moved on. For instance AI Intelligent agents, personal assistants etc.. What they need to do is make something people don't even realize they want until they see it.