Seriously, what's so broken about X? Is it just a pain in the ass for developers to work with?
You might seek out some of the tech talks given by Wayland developers. They lay it out pretty clearly.
Here's a good one: https://www.youtube.com/watch?v=RIctzAQOe44
From memory, X11 is full of cruft that no longer makes sense. Everyone wants beautifully rendered, anti-aliased fonts, but X11 not only doesn't give you that, if you comply with X11 you can't do that.
Wayland took a look at how X11 is actually used, today, and throws away the cruft that nobody uses anymore. Also Wayland adds a sane API versioning system.
Wayland is exactly as network-transparent as X11 is in actual use these days: not very but you can make it work. Everyone is pretty much asking X11 for a drawing canvas, drawing on it, then giving it to a compositor to display. See above comments about beautifully anti-aliased fonts.
My favorite comment: "Everybody says the UNIX way is small programs that do one thing well. What is the 'one thing' that X11 does well?" He pointed out that at one point X11 had a print server embedded in it (it wasn't a good idea).
TL;DR Several of the top X11 developers think Wayland is a very good idea.