Hmm, I think this would be quite "do-able" given some favorable conditions. The proven model has certainly been around a long while (sell 'em the razors and they'll buy the blades etc.) And, the expensive R & D end of things is pretty much done - e-ink is a purchase-able commodity for manufacturers at this point.
Lately I've been musing about why Sony didn't just partner with Amazon in the first place - make Mobi-read a supported platform and voila - instant vast storefront, neat software, software support etc. I'd have loved it (I like the mobi-reader platform anyway) and the book selection would have been amazing.
Will never know the negotiating stuff that goes on behind closed doors of course.
Personally I *really* like the form factor of the Reader vs what is pictured as the Kindle, but being a fickle guy to the core, show me a better product and I'll switch in a heartbeat...