It would be nice if the wave scanner actually did look like that. Sadly, all you seem to get is a load of vertical lines from bottom to top of the scanner and bits of a signal across the whole width of it. Those could be several small signals or one big one but since you can't see a solid signal you just don't know.
We have computers today that can identify a radar signal and determine what it is to quite a high degree of accuracy. By 300AD, we should have computers that could interpret a signal, identify it very accurately and and plop an icon on the screen for you to aim at.
Sorry but the wave scanner as it is now is a joke, I spent 4 hours trying to find stuff on a planet in solo, half that time was spent chasing ghosts that vanished as I got close to them. Some of those signals were solid and I should have been within 20 feet of them but nothing was there, if I moved forward another few feet, the signal disappeared and was never found again. When FD finally admit the scanner is broken and get around to fixing it, maybe this object identifier would be useful.
Its just a game mechanic, meant to add some fun. But, I agree. In fact, why do I have to drop into a nav beacon? Why cant I just fly towards a planet and have waypoints populate as I get closer? This way I can choose what mineral deposits to mine. Then, I get in my scarab and drive to the waypoints.