It could also be a demonstration of the limitations. The question with Wave is: will it live up to the hype and replace a wide swath of other communications protocols or will it just be one more protocol? Everything I'm hearing makes it seem like it will be the latter, which is fine, especially if you like D & D.
It's not like POP killed IRC, or HTTP killed SMTP. Different protocols do different things. What serious candidates would there be for Wave to kill?
Sorry for the imagery, I just thought it fit with the D&D theme :)
Wave might catch on as little more than an open-source alternative to, say, Sharepoint and Biztalk. (collaboration and workflow automation being the most obvious non-communication uses).
But I don't see why people would stop short and not replace their SMTP/Jabber/IRC/RSS use with Wave once they and everyone they need to work with is using it.
At least it'll make procrastinating more efficient.