There will be plenty of clowns who buy it. Look at the ebook reader market. This could be one of those with more bells and whistles.
The e-book market (if we're both talking about Amazon's Kindle) is actually fairing better than I expected.
I don't own one, but I have purchased three as gifts and it is a rather impressive product. When it was first released, I figured it would flop. But, it didnt. It's simple, functional and, especially for those who spend a lot of time on airplanes, very useful when compared to the option of lugging heavy books around.
That said, its focused. Its a tool for downloading and reading (on a brilliant, non-headache-inducing screen) everything from newspapers to novels.
I'm still trying to figure out what the iPad is supposed to be used for... So far as I can tell, it's got no focus. Its just a gadget.