Yahoo is faced with a similar problem; they can't shake who they are, no matter how cool or different they try to rebrand themselves. They're still Yahoo. And nobody is interested.
I say this because MS seems to think that if they get a slamdunk on technology, everything else will fall into place. And maybe there is some truth to that. But you can't escape who you are and what you've done, especially when it's become your M.O.
Facebook has an advantage in this space: they're still a new name in tech. They're "hipper" although still have their own baggage; but it remains to be seen how that permeates throughout what they do. So far it hasn't looked good though.
Really, I think there is too much talent locked up in this major companies. I think the world would be better off if more engineers and creatives were forging their own paths, chasing their own dreams and coming to market themselves. We need less whales and more/bigger fish.