SearchMe + Sequoia? Hmm...

The other day Techcrunch posted a story on SearchMe. SearchMe's high-level concept is returning search results visually, with a display very similar to Apple's Cover Flow look and feel.

While I find SearchMe interesting, I am not understanding why Sequoia has been backing the company with millions of dollars over the last several years as one of their big bets in search. I'll explain why:

1. While the search results are flashy and cool, I see them as a novelty at best for the majority of users. Users will have fun at first, but then be switch back to Google as they'll want results as quickly as possible. If  Ballmer were here, he'd be chanting speed, speed, speed. Even if SearchMe can create a quick loading web application, if results take longer than Google to display or if reviewing the results takes longer than Google, forget it, user's won't adapt. 
2. Google could add a similar search interface in their Experimental Search category with reasonable effort.
3. Where's the verb? I SearchMe'd it? That's not going to catch on anytime soon. Its certainly not as catch as nobosh'ed.

Thoughts?

BA