I don't think that's a priority quite yet. My guess is that the business's relationship to person searching - both in terms of connection to person searching, geographical data etc are higher ranked than anything else classically associated with SEO. On the relationship note: think of it as the human filter. My friends would never prioritize a stupid page that says "photography in fremont, photography in fremont california, photography located in fremont" over an *actual* business. That's why having your friend's "likes" higher ranked, especially when it's local businesses, is a better filter than what a computer tries to see as content.
In fact, I would go as far as saying that algorithmic ways of analyzing human filtered content is probably the future of SEO, and in that sense Facebook is definitely something to watch out for. We all have spammers - err, I mean people who love viral content - in our networks, but if networks can be identified and contextualized, they would be an amazing filter. Eg. if somehow you could figure out that I'm a photography expert, then my recommendations could be taken into account higher than say, my 4 year old nephew randomly typing on the computer. I don't show up in search engines but within my realm/corner of the universe I'm an expert; it's a relative filter, which Facebook has the power of exploiting.