The GigaOm article isn't about what you want it to be about, but that doesn't make it a bad article. They write on their terms, not yours. Those terms are: where does Wave fit in with the Google ecosystem? What's likely to happen to it? Is it worth an investment of time an interest?

The thesis of the article is that the Wave pitch is arrogant. The evidence mustered is that Google has a poor track record of weaponizing innovation, and has little to say right now about what they'd actually do with Wave, but is prepared to say that Wave is more important than SharePoint, and maybe SMTP.

I don't have to agree with this thesis to see that it's worth considering.