Just because the iPad will become an iFad isn’t a bad thing. Many people may buy an iPad to look cool or just us it to check email once a week (grandparents??). The reason people buy the iPad will not be important.
I probably won’t get the iPad, though if you have an extra, I’d be happy to take it off your hands. I have, however, started being a little more careless with my iPhone. If my iPhone were to meet an untimely end, I will replace it with the iPad.
The real genius of the iPad is that it is just a blank piece of paper. Any software developer, engineer or backyard inventor can be creative both on the inside, software, and outside, kickstands, cases, etc.
I hate to sound like I drink Apple Koolaide, but some weaknesses critics see in the iPad are intentional concessions to third party developers and accessory companies. Without a robust third party sphere any PC product will stagnate. Plus, Apple loves make licensing fees on accessories they expended zero R & D dollars to create.
Of course, some weaknesses are also Apple underwhelming on the first generation so they can meet the price point and leave room for Wow with the 2G iPad.