edit uh, this http://googlesystem.blogspot.com/2009/05/google-wave.html makes it sound like a "realtime wiki." Isn't that very similar to Y-com's http://etherpad.com/, that pg now uses to write his essays, and has (or had) patents on part of the tech?
My elevator pitch (probably inaccurate, but it's mine) - "Real Time multi-way fedreated communication that creates secure rich-format conversation." It's the Real-Time element + the Multi-Way + the fact that people can drop in on conversations later on that make it exciting. What got people excited was the open-source nature plus (if I'm not mistaken in my memory) the decentralized aspect - multiple organizations could run their own wave server, so these conversations could be kept entirely internal, or interoperate with external Wave servers. It has elements of IRC, Instant Messaging, E-Mail, Lotus Notes, and WIKIs all rolled into one.
You mention Lotus Notes: I seem to recall reading Lotus Notes was a cool idea ("groupware") that didn't take off despite passionate proponents, and that it lead to Lotus being vulnerable to being bought by IBM and... ceasing to exist. Maybe today's tech foundation (HTML, web, etc) and now-online target market will cause a different outcome.
I hesitate a little when software is announced before it is released (e.g. google was just released); and when something is presented as a universal solution (but neither of these prove anything).
I think it must solve a problem that I personally don't have, so that explains my (personal) lack of excitement (note: many things have had massive success that I haven't been excited about, so this isn't a criticism of the tech). I tried to watch the Video of it, but it just didn't grab me enough to keep watching (again, just my personal reaction). Perhaps my perspective is really "we had non-interactive email... and we liked it!" and "get off my lawn".
PS: Re "troll". I thought I was asking a straightforward question, though skeptical. Observation: if a non-enthusiast's innocent request about a tech feels like a troll to that tech's proponents, it forms a barrier for adoption beyond the proponents. Not judging, just noting.
Re karma: I periodically start a new account on HN, because I believe karma distorts perceptions. Luckily I didn't ask this question at the start of a new account, or (it seems) I would have been dismissed as a troll.
See email, IM, shared text, blog comments, published pictures, all in one place - one interface, one site. Do away with long chains of email quotes, accidental reply-alls.
Watch the video, it's long but you don't need to watch all of it to get a feel for how wave works.
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I was hoping the realtime chat/wiki environment would be implemented but if it is I can't find it.
