What the shape actually tells you
Height is amplitude, so tall regions are loud and flat regions are quiet or silent. Speech shows as clusters of peaks separated by visible gaps at every breath and sentence break; music shows as a denser, more continuous block. That makes a waveform genuinely useful before you edit: long flat stretches are dead air worth cutting, a solid wall touching the top and bottom edges means the recording is clipped, and a waveform that barely rises off the centre line means the track was recorded far too quietly.