Google itself has actually built very little technology in the past decade. If this is anything like their disasterous Youtube acquisition (still bleeds many hundreds of millions a year, at a rate that is accelerating!), then it certainly won't be game or industry-changing.

Basically, I agree with the other posters, the only thing that the end-user is likely to see is integration with the existing package of Google tools.

Highly doubt this will bring lower fares or costs. Airlines will simply start shutting down if fares are driven any lower than they are right now.