The new service is an awesome demonstration of the potent products that can spring from Google's rich, structured data core. Could the company monetize this directly? Absolutely. But they won't because it's even more important for Google to 1) encourage Android phone purchases by offering this amazing feature (expect this to last a short while then migrate to iPhone as well), 2) popularize a new platform that sucks in structured data (much like the free and similarly sweet 1-800-GOOG-411) and 3) generate good will toward the G-Brand.
Expect increasingly more babies from Google's fertile data womb in the near future.