"Be sure to drink your Ovaltine!" -- Devin Nunes

The memo clearly states it was PapaD that kicked off the investigation, not the dossier. But the memo does blow up the theory that the dossier is all fake. And four different judges approved the FISA warrants, on four separate occasions, so there's that as well.

Also, given that Gowdy, not Nunes, is the one Republican who actually read the intel upon which the memo is based, this is significant:

Trey Gowdy
Trey Gowdy
@TGowdySC
As I have said repeatedly, I also remain 100 percent confident in Special Counsel Robert Mueller. The contents of this memo do not - in any way - discredit his investigation.