Google Wave - what's the point?

I don't see the point of Google Wave. It's intended to be this
collaboration enhancer, but unless one has a plug-in for the app one is
collaborating with, it seems like a really slow, really buggy sort of
instant messenger client.

About the only plug-in that seems useful right now is Google Maps. So
it'd be great if one is trying to find a site for a family reunion or
something like that, where some people are in a different time zone and
can't participate in real time. It seems marginally better than
emailing a link back and forth I guess.

Say I wanted to collaborate with a ukulele player and write a bit of
music. Yesterday, I'd call him on the phone, put it on speaker and off
we'd go. During the call, we'd play some, and then write the notes down
on music scoring paper. At the end, we'd enter it into a music editing
program and the score would then be in electronic form.

How would I use Wave to do that?

Perhaps a better question: What do you use Wave to collaborate on?
--buck