This is how Pong should be done.
The powerups were awesome, and there were so many of them. Also, I agree, a two player mode would make this hot game even better. And you're right, Pong can be made a million times better with better graphics, better sounds, powerups that are actually useful, and by having a lot more interactivity.
In all, outstanding job on making a ordinary game revived with a whole new look and a whole new feel.