There are plenty of reasons to question the significance of the just-released memo prepared by Rep. Devin Nunes (R-Calif.), most notably “grave concerns about the material omissions of fact” expressed by the FBI, which is now led by President Trump's handpicked director.
Here's another reason: Republicans hyped the document as damning evidence of a deep-state conspiracy against Trump then dumped it on the Friday afternoon before the Super Bowl.
Even before the release, there were multiple reports that indicated the White House knew the memo had been oversold. The Washington Post's Philip Rucker, Ashley Parker and Josh Dawsey
reported that White House Chief of Staff John F. Kelly on Wednesday “shared with the president his opinion: that releasing the memo would not risk national security but that the document was not as compelling as some of its advocates had promised Trump.”