Wave Goodbye to Sharepoint?

Google's big news - Wave -- it's worth watching the video from the Google I/O conference (it's looong). Wave is essentially a new platform for communication, collaboration and interactivity (and potentially a great platform for distributing and playing video games! :-) -- it takes many products and technologies we've seen before (google docs, elements of Facebook, Microsoft sharepoint, IM, etc) but integrates them nicely.

Plus, Google plans to open-source the whole thing -- continuing to paint the very stark difference in how they view the web compared to their rival Microsoft.