While sequencing is incredibly useful for some applications (I spend my time working on Illumina current-generation "Next-gen" sequencing), we don't understand nearly enough about the regulation of genes for a sequencer to be analogous to an oscilloscope. It is, at best, a wiring diagram, and really much closer to a parts list. Oxford Nanopore seems really exciting, especially for field biologists, but it's at best 1 order of magnitude better (in terms of cost, speed, and sensitivity) than current technology; historical trends have seen a Moore's law-style exponential increase in capabilities, though, so Oxford Nanopore isn't really a quantum leap.