Well, I found out what causes the wobble and was able to fix it.
I've seen some stupid product defects in my life but this really takes the cake.
You see, where the blade contacts the flange, Amana has decided to put a picture of a block of wood and some text.
You can actually feel the raised letters and the picture when you pass your fingers over the surface.
I removed the print with my fingernails and a scotchbrite pad, and the blade wobble is now down to 0.0015", with the cut quality much improved. It's a really good blade now. I guess I'll be removing the print from my other sawblade as well, see if that makes it run truer.
It is still not as good as my Freud glue line ripping blade, though, because the blade *sings* when I use it to shave only a half or quarter curve and leaves massive marks. It's just not very stiff. It's just not good enough for the price.
I just got a dial gauge, enabling me to measure the wobble in the blade.
It turns out that it is approximately 0.008". For comparison, the wobble with my Freud Fusion blade is less than 0.003" (and would probably be lower if I had cleaned the thing). I switched the blades two times to confirm the measurements. The Amana wobbles WAY more than the Freud (see attached video).
That, then would explain the underwhelming cut quality that was present straight from the start. Not sure if I can return the blade, given that I'm based in the Philippines.
I bought this blade because I had problems ripping really thick stock with my combination blade (Freud Fusion). (As it turns out, that was because my riving knife was misaligned)
People told me I would get smoother rip cuts on normal stock with the Amana than with the Freud, which already made perfect cuts.
Unfortunately, this blade never managed the kind of perfect, glassy cuts on teak that the Freud produces consistently.
I guess this blade would be better if you have an underpowered saw and want to cut thick hardwood, or if you have to rip large amounts of hardwood really fast, but if you mainly want a perfect glue line cut, then this is not the right tool.