Facebook's Gmail killer would be a non-starter...what do you think?

With so many corporates and institutions blocking Facebook for the obvious waste of work time how is Facebook's so-called Gmail killer (Project Titan) is going to be a viable Gmail alternative. Sure, I might create an account as soon as I can but may not use it for mainstream as I use Gmail.

Also, Gmail has grown up with so many niceties (aka, Labs) over a period of time. Will Titan have these niceties and more to begin with? What do you all think?