Semantic Search Engine: Inbeta... as in "not Alpha"?

Through a discussion on LinkedIn about real life examples of semantic search, I was pointed to the existence of Inbeta. I company with a curious name because it says that the company has a "Bèta"-status. I can't image what that says about there offerings.
But now for the offerings of the company. On their product page they have many products listed.
Of course the first one caught my eye because a "semantic search engine" is something that everybody dreams of. Imagine a search engine that gives you insight and context regarding the query of the user in relation to the information at hand and maybe also on external resources by using the sematic relations between information....

But wait... Before you think I found the holy grail of search, The sentence

"Natural Language: user will not need to search for keywords anymore, our Semantic Search understands the aim of every search query and suggests results that are relevant, thus increasing cross-selling and saving customer care costs"

had my feet put on the ground again.

This proposition on using natural language as query input and giving back relevant results based on the combinaton of words that most likely exist in the available search index, is something that has been here for years. Autonomy has marketed that concept with the name Meaning Based Computing. It all revolves around the concept of terms and weights withing documents and in relation to the words in the entire index (corpus) and matching the queried words to these calculated figures.

For a serious search engine a regard this technique almost as a must have.

But, back to the semantic side of this... Where is it?

When you want a good example of what semantics can do within a search application, take look at http://www.freebase.com/view/en/barack_obama.

It has everything to do with the context of the concepts that can be derived from a query. People have roles and jobs, names can be linked to artists, historical data etc.