Steven Jobs thinks it is, and he facking designed the thing.
Ding ding ding! Novelty is a key word in this device. I used my itouch for about a month before I realized I just wanted a music player and went to the zen.
Honestly? How many internet devices does one need? I, for example, have 4 computers ranging from tiny to big, and my cellphone.
Ebooks? Dumb idea in the first place. If your too lazy to carry a book around and flip the pages yourself maybe you shouldn't read books, or better yet, i doubt you ever leave the house. Book are smaller and lighter than i ipad anyone, so this one really stumps me...
Movies, music, and pictures? Again, so many things can do this.
Apps? Well, lets be honest, 97% of apps are gimicky things are interesting for about 5 minutes then just annoy the shit out of me. I swear if one more person tries to shoot me with their iphone >_<;;
So pretty much, I see it having little use for anyone, and if someone does have a use for it