It's got very limited functionality - latency, overhead, etc. Plus, you can work WAP over an SMS bearer. As far as 802.11is concerned, it's really not in the mix. You might see WAP over bluetooth connecting to an 802.11 network. You've probably seen the recent announcements for open source gateway products.
Open source is a great thing for everyone.
There are open source servers in the web community but people are still buying the servers. It's a great way for people to experience wireless data without having to spend the money to buy the gateway. I'm not sure. Plus, that information is kept confidential anyway. What's the WAP forum doing to address some of the problems being faced by developers with the current standard - e.g., many people have been implementing WML differently, further, the handset manufacturers don't manage control keys the same, etc.