I thought the iPad was a joke, and by all accounts it seems to be a success, so I'm wary of judging a product's future success based on my own personal opinions.
It's a toy for people who have more money than they know what to do with.
I know 5 people personally who own iPads. All are over 30, two are male, 3 are female and all except 1 are what I'd consider "normal" people (non tech type people). I also happened to sit behind two people using them on the train on Friday. Oh, and I'm most definitely not in the valley.
I saw about 5 Kindles and around 10 iPads on my last flight.
There was a huge lineup in a store selling iPads and iPhone 4G's for a big markup in HK.
People are loving those products and buying them. Definitely premium goods, but there is no denying the popularity of these items.
It is easy to doubt these premium goods like 3D TV's and iPads...but there are a huge number of people who replace their phone every 6 months and their TV every 2 years.
The iPad is the missing link between people who want to get online but can't be bothered to learn how to use Windows or Mac OS. It really is a big step forwards because of battery life, display clarity, ease of learning the gestures and lack of scary buttons.
One of my cousins is severely disabled and can only really use one hand with limited movement. They are completely unable to use a normal computer without assistance, but can manage an iPad in all capacities apart from the off switch.
Every single day I've travelled to work by the Underground, I see at least one iPad user. Business, casual, kids, teens. It's scary really.
I am sure they aren't ignoring it on their iTouch/iPhone/iPad lineup either.