Certainly not an iPad killer.
I can not imagine anyone that wants an iPad buying this thing instead.
I wanted an iPad, and I bought this. I'll tell you why.
$150 < $500
I have, perhaps, $50 a month to spend on extras (not food, utilities, etc.) meaning that I would have to save money for almost a year to buy an iPad, or I can get this in 3 months. I had been saving for the iPad, but this suits my needs. I wanted something that the kids could watch videos, listen to music and play games. My 4-year old knows how to use a stylus from the DS, so he can play games on this.
It is a simple equation, the iPad costs too much...