Google Wave...Exciting?

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Okay, what the heck is the big deal about Google Wave? Everybody is freaking out over getting and giving invitations, but I read the Mediaite write-up but I really don't understand why it's making such a splash. It doesn't seem to really offer anything Facebook and Gmail don't already offer. I am stumped. Can anyone enlighten me? If you're one of the people who is truly excited about this, what is the main reason? What excites you the most? Mediaite on Google Wave: http://www.mediaite.com/online/google-wave-may-be-coming-to-kill-email-but-what-is-it-exactly/