Google became the de-facto search engine because of the algorithms it uses, and because of its simplicity.

Microsoft have apparently taken the search algorithm to a new level, resulting in more relevant results, so if people find this gives them a better search service then slowly but surely people will move across to it.

Microsoft are also realistic that they're not going to take over the search engine market over night, and they seem to be planning a staged approach, with new features roled out over time.

At the end of they day, it's good for more competition to be introduced, as it will force Google to up their game.

Bing is an awful name though.