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It's that you don't find it a burden to carry around multiple plastic cards, cash and ID's. I often go around without cash today... this wasn't always possible. Credit cards took a while to become mainstream, so will Google Wallet.
Running out of battery is a security risk, even today. You could be categorized as irresponsible for letting that happen. Plus, it's easily fixable with a software patch (think reserve battery % setting).
The phone actually launches the app for you, and you can select a default card... cutting the amount of steps to almost the same as a plastic card.
Currently, I have 8 items in my pockets... with Google wallet, that could be reduced to 2. Thats something I would actively fight for.
2 years ago on Google Wallet: Color Me Skeptical