I think people are seriously overestimating Canonical's amount of pull and influence here. After all, they are just a company with an admittedly sizable but hardly dominating chunk of Linux market-share, and pretensions of being the next Android. Compared to companies like Red Hat, Intel, AMD, etc they are pretty much insignificant, with almost no upstream contributions to their credit and limited influence on other distributions other than clones such as Linux Mint. I think they are going to have a hard time getting anyone to take this seriously.
It simply does not have that much of a leg to stand on. Whatever Red Hat backs is going to be the choice of the enterprise and embedded markets, as Red Hat has a strong profitable base and a whole community of reliable customers behind them, and you can bet that Red Hat is not going to want Canonical to dominate the graphics stack and will instead go with the upstream solution where they already have great influence. That means no matter what Wayland is far from dead, and if AMD and Nvidia want to be taken seriously they will have to support at least both Wayland and Mir (AMD especially since Catalyst is primarily for 3D workstations).
The main trouble spot is going to be the incompatibilities of duelling implementations. Valve's strong endorsement of Ubuntu is problematic here, although I have found Valve to be problematic from the very beginning.
Still, we did not need this mess. Whatever happens Canonical has thrown a sizable wrench into what was going to be a fairly smooth transition.