iPad isn't for me. Purely for financial reasons.
I can definitely see the attraction of it over a netbook though, even tho I agree that it is obviously less capable/flexible in many ways.
It's the same reason I often use my phone to surf instead of my netbook:
Pick up, instant on, surf, put down.
(versus: get out of bag, turn on, wait for boot, login, wait for Windows to start, start Firefox, get pestered by Windows/Firefox/AV updates, surf, shutdown, put back in bag)
It is just a much more 'casual' experience. A "digital magazine". Something you glance at while having a coffee.