How is it a waste? It seems like it does everything that most people use a computer for. I can certainly see why this and similar devices running android would be useful for casual computing on the move without the hassle of a laptop/netbook.
no flash support
no usb/firewire
can't install any applications, mac has control over what is on it
terrible touch screen keyboard
there is no way to watch videos on anything but the tiny screen (no video out)
you have to pay upwards of 700 dollars for 3g support, that's kind of silly (also doesn't support t-mobile 3g.)
very very limited storage space, I would prefer a netbook with an usb external hdd.
joke response:
it's called the fucking ipad.
I am not an apple hater. I had an apple laptop and loved it. I also have an itouch and want an iphone.