The short answer is YES, but the long answer is, if you're thinking about building a startup, this should NEVER be the question you ask. All successful companies that came out of nowhere and disrupted already stable industry never started out thinking "How do i build another X", "How do I disrupt X"? They all built something they thought was needed by the world and it went onto somehow "disrupt X". So if you're start…
Ask better questions, and you'll get better answers.
So, the question shouldn't be 'Is there room for another search engine', but perhaps 'Would a better search engine ...', 'what comes after search engines'.
I think even looking at the 'flaws' of google aren't really going to give you a game changer. You'll find a whole that Google can easily fill.