I think the "Apple is all about fashion, an the last thing I need is a fashion ebook..." is such a straw man it isn't even funny.
I won't deny there are apple fan boys. There are. But a lot of us who are very enthusiastic about our Apple products are enthusiastic not because it is stylish or cool but because it works intuitively and well. I ignored Apple for over a decade as a PC user, it simply wasn't an option. But last year I got a Macbook, and after a few months, picked up an iMac as well and they were the best decisions I ever made regarding how I deal with technology. Not because they were pretty (in fact, I liked how my PC's looked more) but because it was so damn usable and what's more, a pleasant experience to use.
The same goes with the iPhone. My Windows Mobile phone did just about everything an iPhone can do, but it was a giant pain in the butt to do it, ever.
Apple is good at UI. And UI is a very, very important part of how we deal with tech... dismissing what they do as just pretty is insulting. It's not about being pretty, it's about being USABLE. I swear, everytime I hear this stuff it's like listening to Linux fanboys complain... People don't seem to get it, it doesn't MATTER how "powerful" your product is, what matters is "do people want/like to use it." Linux is not user friendly (though it is slowly getting better) and so people don't use it.
The moment someone makes a computer that is more usable and intuitive than my Mac, I'll be right there. Apple and their high prices and arrogant attitudes be damned... but until then, whenever I use a PC it's like experiencing a computer with gloves on - awkward and irritating. And that may not be for everyone, but I was certainly surprised after about a month of using it how great it was.
So, that being said.... I don't think we'll see an ebook reader from Apple. As far as media device - probably not either. I think we'll see the SDK and that's about it. At best, and I hope it is true, we'll see a tablet. But I HIGHLY doubt it. Even Apple is only willing to put so much on the line at once.
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