The ironic thing about Wave is that despite Google's positioning it to get everyone working on the internet this is a product that will prove its value on corporate intranets.

Enable authentication via Active Directory and Wave can be a SharePoint killer, not to mention how it could cut the volume of internal email in the corporate world. One big thing I would like to see is how hard a company-hosted Wave becomes to manage once you get a lot of content which is a big pain with systems like SharePoint.

As Wave is/will be open-source I see an opportunity for those who want to bring it inside corporate environments. I don't think Google can do that, the model needed to sell to and support the corporate world is not in its DNA.