Meta Objects are implicit surfaces, meaning that they are not explicitly defined by vertices (as meshes are) or control points (as surfaces are): they exist procedurally. Meta objects are literally mathematical formulas that are calculated on-the-fly by Blender.
To create a connection between the vertices of a Soft Body object there have to be forces that hold the vertices together. These forces are effective along the edges in a mesh, the connections between the vertices...
This tutorial demonstrates how to use DupliVerts in Blender, as well as an example of when you could use the wave effect to enhance you animations...AND as an added bonus...you can make pretty nifty backgrounds.