GDrive cancelled, or not?

Philipp Lenssen speculates that GDrive has been canceled after watching a YouTube video called "Googley Blues" (now private). The video apparently showed the Platypus icon overlayed with the text:

"I’ve been ready to launch my product since 2002... At least round here, 5 years ain't so long overdue."

I'm not sure if this evidence is enough to say it's gone for good though -- by looking at this statement with a "half full" mentality, it suggests that GDrive is still waiting to debut. If this is what it actually means, the product has been sitting in the queue far too long, which may be causing a blue or two.

It seems strange to me that they would cancel a project with this much hype around it -- especially after launching "shared storage" last week. This for-pay service almost seems like it was designed with GDrive in mind to me.

With the evidence presented, I think it's still too soon to jump to conclusions one way or the other. What do you think?

[Image from Google Blogoscoped]