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Regardless of what it can / can't do, Apple's going to sell a shitload of them, because they're a marketing behemoth. And make even more money because it's tied to their app store, as well as the "upgrades" to come down the pipe.
Personally, I don't need or want an iPad (I don't menstruate), and my dell mini serves just fine for portability, as well as being able to angle the screen how I want it regardless of the position I'm in, plus a bunch of other stuff. Regardless of my feelings, the fucker will sell, will sell huge, and people who buy it regardless when there's better alternatives out there (which there will be), will always be able to self-justify their purchase.
$.02
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