Do Google Sites and Sharepoint compare?

Well Google Sites was just launched and there's all kinds of debate on whether it will compare to Microsoft Sharepoint. Here are two interesting ZDNet post by Mary Jo Foley and David Greenfield. And a (long) post by Sarah Perez on ReadWriteWeb. Her posts also addresses what to think of Google trying to circumvent the corporate IT department.
W.r.t. Sarah's post: I understand what she's saying and I share many of her thoughts. I would like to add what I wrote before: what does Google Apps and Sites imply for corporate Information Management?
What I do find, though, is that her post is written in a very defensive way, as if she is an IT department employee (as I am myself...). I miss a more opportunity-driven approach to your post. Of course Google sites isn't going to compete directly with Sharepoint, for now. But where could this take us anyway?