Perhaps it does. But if it did, I think we'd be seeing articles like "How I used Google Wave to get laid and make money", not speculative "What could Wave be possibly useful for?" articles like this one.

Wave is more confusing than it is inspirational. My first thought upon opening the invite was "wtf?", and after a few minutes of staring at it, "wtf?!?". Then I closed the window.

Maybe wave will become useful after a few iterations, but in its current incarnation it's in the same category as Yahoo Pipes. I.e., technically interesting/dazzling, but of little practical use.