Google Wave, does it have a point?

Today I got Google Wave thanks to my brother. There's all this invite only hype about it but in all honesty it is complete bullshit. It seems like people are begging to get this when it's pretty poorly organized, difficult to understand, and quite frankly- pointless. The only thing I can see it being useful for is people living across the globe who need to collaborate on projects.
Dani and I had some fun wit it for about 1.2 seconds and quickly got bored. I have 8 invites so if you want to join the stupid party let a hoss know.