Look at all the messaging apps on iOS. WhatsApp is massive. Sorry, but there is room.
I'm sure they'll extend it with animated GIF support, short video streams, hooks into other photo app products like Flickr, etc.
The Wozniak remark annoys the crap out of me. That fat pudge has been drawing a salary from Apple of $120k for doing nothing, the moment Steve got back to Apple. He's more than been compensated for doing nothing since the early days.