The hype originates in the business comminity, and it's about all the money that will be made, not technology.
The technology part is over as far as business is concerned. It's good enough to get everyone in the world to type their every need into this textbox rather than another. Everything else is downstream from there.
Transformers, rotators, discombulators, those things get nerds excited, but what's whipping people into a frenzy is the race to GOOG 2.0