I've always assumed that wabbit meant cowardly and weak, and that the word was basically a mispronunciation of of the word rabbit.
But then my own ignorance does so often give me shining glimpses of the glorious infinite.
Wabbit is actually a word meaning weary or exhausted or slightly unwell.
Well, at least I'm making progress.
Thing Not To Be Today If Possible: wabbit. This word appeared in the 1800s, probably from wobart which means feeble or withered.