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Etherpad is now an open source product. In fact, it is still being developed, and is currently being rewritten in JavaScript to run on Node. Wave as a product

Etherpad is now an open source product. In fact, it is still being developed, and is currently being rewritten in JavaScript to run on Node. Wave as a product no longer exists, however a lot of the technology that Google used has been merged into other products such as Google docs.

dirkc 13y ago
The project lost a lot of momentum after Google acquired the developers working on Etherpad. I think the original codebase got forked as the Etherpad Lite project that is still being developed.