As I understand it, also the multi-user features in Google Docs, Sheets were salvaged from Wave? If this is the case, there's a pretty big part of the codebase actually living on...
Google docs had multi-user features before Wave. Back when it was called writely.com even. Some features scattered out onto other Google products though (like hangouts).
"We are focusing on understanding loops and one-shots, as these types of sounds represent the vast majority of what sound designers and musicians are dealing with."
But Beatunes is attempting to do such a thing. Pretty scary UI though ;-)