Well I certainly don't consider hype a four-letter word, first off. Hype is just a clever form of marketing and something that we should all love and embrace. ESPECIALLY in the digital/social marketing world.
As per my expectations... Well I hadn't really thought of it. What I think it is and what I wish existed are definitely two different things, as you've mentioned here.
WISHES:
What I wish is for a more complete backlink profiler a la ahrefs.com. If their backlink discovery tool was paired with the Moz Pro toolset my brain would burst with bubbly joy.
If I were designing Moz Tools I'd consider adding in some sort of functionality that tracks my link building efforts for me. i.e. who I'm contacting, who I'd like to contact, what websites I found interesting and relevant to my campaigns, etc. For example, a pinterest type button embedded in my browser that would allow me to pin a site/blog/whatever to my campaign for my later perusal. Then I could go back and grab one of my form requests, edit it to meet the needs of the specific webmaster or blog owner, and fire it off. I have burnt through far too many journals with notes scattered across my desk and there HAS to be a better way!
...I feel like I'm giving too much away. I have more ideas! I'll save them for the interview one day. As a friend of Joanna Lord's and a Seattle area resident I often have had dreams of joining the Moz crew. Of course I'm happy where I am currently, but perhaps one day I will come a-knockin' ...
WHAT I THINK IT IS:
I honestly don't know. Maybe a robust campaign tracking tool with new graphs and purdy methods of displaying search data. Better integration with GA and GWMT perhaps? Tracking penalties, identifying which algo update may have caused a site's traffic to decrease... Suggestions.. hmm I don't know.
This is fun though I'm excited for tomorrow now.