While many of us don't use Google Hangouts as their SMS/MMS messaging app of choice, there are still a great number of folks out there who do. If the latest rumor is true, those who use Hangouts for text messaging could be in for a rude surprise.
The intel suggests that Google will remove the (carrier/native) SMS/MMS features from Google Hangouts in the next update to the app. This would mean that Google will officially separate that functionality into Hangouts and the Google Messenger App. The good news about that is that Messenger is actually a well rounded and is a more fleshed out SMS/texting app, so it shouldn't be too difficult of a transition for most folks.
Here at HQ, most of us already use Messenger separate from Hangouts anyway. How about you folks?
We will keep an eye out for confirmation of this. Feel free to post it here if you find it before us.