The comparison to Wave is actually kind of funny here, since Dropbox Paper came from the acquisition of Hackpad, which was a fork of Etherpad, which was a startup that Google acquired to integrate with Google Wave.
It's a small world. :)
It's a small world. :)
As a long time user of hackpad, it's nothing more than a glorified document editor, and very simple at that, with meagre "shared editing" capabilities that we've had for decades, even in desktop apps.
(The main reason I stuck with it is it's faster to load than Google Docs, and I only care about basic editing).