Did Google Just Kill All the Other Mobile Social Networks?

“Yesterday, Google announced a new mobile location-aware application called Latitude, which lets you track your friends’ whereabouts using your mobile phone. The move will have major ramifications to the current mobile social networking market which was just beginning to get off the ground. The question we must ask now is this: did Google just validate mobile social networking …or did they just kill all the competition?”
Link (NYT)