This is a bit hard for me to answer, mostly because I think that authors are assuming that something that is not used as much as X is a flop. If you ask me if Buzz is a flop I would say no because I am on Buzz everyday, and it meets my needs for the type of service it is. However, if you ask me if I think that Buzz will be around this time next year I would not be so quick to answer. I do think there is a real chance that Buzz will go the way of Wave. Buzz may not disappear, but it may find it's way into other services, just like Wave lives on in Shared Spaces. If Buzz gets axed so soon after introduction is it a flop?
Buzz means something very different to different people I think. It is that identity crisis which keeps it from gaining broader adoption. It is important to remember that a year into Twitter people were still posting updates about what they had for breakfast, and link sharing was no where near where it is today. Buzz will take time to grow, but it must find its identity first.
I will post a response out on Quora as well, a nice little pro-buzz post.