It is most likely the Borg Queen was taken out of the first wave so she could be used to anchor the second set.
I have no doubt there will be more Borg waves. I'm really looking forward to them all!
So the Borg figures shown last winter at ToyFair were a human male, Seven of Nine (Borgified) and the Borg Queen.
Then we got the revision wave, which dropped the Queen, and added Seven of Nine (Starflett Uni) and a Crewman Borg.
So where does Locutus fit in? Is the single wave 5 figures, or is this being released into two waves, with Picard and the Borg Queen as part or all of the second wave?
BBTS seems to think Wave 1 (the four figures announced last fall) will be followed up.