Actually Ripple is not Vaporware. I work for an MTO and we use ripple XCurrent product. XRP enables MTOs to send / receive without having to use USD as an intermediary currency. This reduces costs on money transfer and also enables money transfer even when US banks are on holiday. So I can say there is real value in the network Ripple is building and also XRP itself being used as the tool for cross border remittance.

As far as I can see they're delivering on their promises.