The discussion explores the relationships and properties of the wedge product of basis vectors, highlighting its bilinearity, associativity, and the condition that the wedge of a vector with itself equals zero. It emphasizes that the wedge product is a tensor product that requires a different mathematical structure than the original vector space. The conversation contrasts the wedge product with the cross product, noting that the latter results in an element within the same vector space. The participants seek clarity on whether the wedge product results in components or basis vectors. Overall, the wedge product's unique characteristics set it apart from other vector operations.