With the notion of the problem being the TCG, and given who the founders are, I have for some time held the notion that there is no way those guys let uber-billions flow to Wave ... multi-millions? sure, why not, but massive chunks of pie are targeted for subsumation, redundancy, and obfuscation.
It's the IT departments of respective TCG members (including the biggest founders) who are the ones who ultimately deploy their TPMs. Same is true of Wave's current group of commercial enterprise customer pilots, many or most of whom we can safely assume are not TCG members. The IT guys make those decisions and they are presumed to be autonomous unless someone from the C Suite steps in and mandates something. TPMs had not gotten to the point where that happened. Hopefully with Wave's VSC sales initiative certain C Suite guys are beginning to act.
The TCG member company folks (who are employees of those companies) who work within the TCG are often/usually diconnected from their respective company's IT dept. and thus have little say or interest in getting that company IT personnel (the managers) to scuttle their currently deployed authentication solution for the TPM one e.g. revoke the use of RSA/Vasco tokens for TPM-based VSC. For one thing, who (either the company's employee working within the TCG or the company's IT security manager) wants to stick their neck out and maybe risk their job over it?
Wave appears to be making some inroads with their VSC solution so maybe just maybe customers will come to include the IT departments of various TCG member companies.