Analysts are often idiots too.

When I first heard of WiMAX, it was being sold as a last mile solution - getting rid of the monopoly over wired links to the house/office that are dominated by the telco or cable TV operators. Now it's being bandied about as the ultimate cellphone connectivity solution. It may be a lack of focus as much as anything else that is the problem.

WiMAX is being downgraded to a complementary technology for cellular operators, rather than being the "ultimate" wireless technology.