I still don't see it as anything more than a toy, even in these cases, and how the valuation could be at all justified, especially given their usage trend while in the alpha, even with all the TC hype.
Back in the days when I was a student, there were two easy (read lazy) ways out of reading a book/play: Cliff's Notes (in Canada, they were called Cole's Notes) or watching the movie version.
Neither was really a good substitute for the original, although the Cliff's Notes were invariably better than watching a movie.
If you were to see Wikipedia as the "Cliff's Notes" of a particular subject area, then isn't Qwiki just the "movie version" of the Cliff's Notes?
It is both a blessing and a curse to judge these things based on your own opinions and maybe that's what I'm doing right now.
Because I actually want to use this. Not for everything, but I for many things I can imagine myself using this. At least I've put it in chrome's search bar under the keyword qwiki, let's see if it sticks :)