Wave sucks not entirely because of its implementation but because its adoption is not as widespread. Wave in itself is an excellent web app that have changed the way I collaborate with others. Its biggest mistake is how they rolled it out. They should have polished it more, both in terms of speed and stability and made it all out access just like Buzz (minus the buzz mistakes).
Wave is a very solid app. It doesn't suck. IMO YMMV.
Saving Wave sucks now is true.
This isn't a forecast.