Academia.edu is a social network site that aims to show "academics around the world structured in a 'tree' format, displayed according to their departmental and institutional affiliations" and enable "academics to see news on the latest research in their area - the latest people, papers and talks".
There is a genealogy-like setup to show adivsors and advisees.
More interesting, however, is the news feed feature that shows upcoming conferences and new publications.
Could this work? Will it catch on? Time will tell. It could certainly be useful.