I personally expected Apple’s announcement to be iPad cost-related. Ignoring this factor obviously affected the whole perception of the event.
From RWW: “Another barrier to widespread adoption of this model is the cost of the iPad. It starts at $500, which is not something every American family can afford, especially with an economy in flux. With hundreds of “pages” of content, 3D interactive graphics, embedded video and other bells and whistles, we have to imagine these books aren’t particularly light on file size. As the books accumulate over time, alongside other content stored on the iPad, the 16 GB entry level model may no longer cut it, making it an even more expensive investment.”