I actually think Wave was a bit before it's time and couldn't really find a place to settle. It kind of reminds me of the laser. At first, it was a fun playtoy but no one had any real uses for it. Over time, it became more and more important until now it's ingrained in almost everything we do.
Google Wave had that same kind of feel but it was never give the time to develop and grow. I don't know if it would have been as important as something like the laser, but it sure did feel like something that would change the world. But that's just me.
It was weird, Wave's main reason for existing is for businesses with massive email chains of 100 versions of a document, but they killed it about a month after enabling it for business accounts