It is possible but im pretty sure google will match any technology that is released and since they are the most popular search engine by a large margin they will most likely remain on top for a long time.
If you saw all of the people that makes search engines are Stanford graduates. Both at Google and Cuil the founders are from Stanford, wierd huh ?
I think Google will be #1 search engine in the world. But no body can say what will happen in the future lets see
Google is #1 at the moment, but in the future I think that they will fall, a company cannot hold #1 forever.
The way things are going Google will own the internet in 10 years. They buy up all the big sites and anything they don't have/do they start doing and taking over.
Thats it All business have their up and down periods. Google has dropped down, a little bit lately, but this means nothing. With Google currently running places like feedburner, youtube, analytics etc; it is expected that they move up and down from time to time.