The power of Google is its ability to provide higher quality results for rarer and non-trivial searches. Bing has made no attempt to compete here
Wouldn't that be mainly due to Google's incumbancy?
As someone who rarely goes to Bing, and just took a peak, I am always amazed at how much of Google MS has mimicked. Layouts, menus, color schemes. There appears to be very little that is really original or obvious improvements. Not talking even about quality of results. Which would seem to indicate, if you want the latest / greatest features in search, you will see them first at Google. Bing is just an imitation. Its like they are providing a branded version of Google.
Which isn't news. MS has a long history of taking things other people have developed, putting their spin on it, finding a way to shove it into the market using their OS dominance and name, and then either grabbing market share, and with a little luck maybe make some money. But rarely do they have an original idea, or improve on someone else's ideas. Apple, OTOH, takes other people's ideas, and tends to improve them, and usually make some money. Google just has ideas, some good, some not so good.