you're right. it's an e-reader that you can email any epub file to and it'll read it. if you don't want to pirate, there's a functional store. what more do people need?
Except when you can't, like literally yesterday: subscribed to Asimov's, sent ePub, got a link, clicked a link, "that link is not valid". Repeat, same message. Why? Who knows?
My next ereader won't be a Kindle.