I wouldn't say there is no room for this device. The iPad is not very handy for a business professional either, as many of them already use smartphones for their duties. This could be seen as "the document reader" for bureaucratic positions, provided that their software is easy to use. However, the pricing range is ludicrous.
BTW, you would do well in remembering that Apple has many of its scale de-economies covered by the public works, so the profit range they're making is not real. Probably they should be losing money if they had to actually build the infrastructure for their things to work.