Maybe. It was for me. The new K3 Wi-fi only price made it economical at last to take the plunge and add a Kindle to my EPUB ereaders.
Really you have to ask yourself if the free content is truly something you would read. Also is it free content beyond what is already available for the Nook? Often Amazon, BN and Sony have the same free content available. What I did is tracked the free content for several months at the websites inkmesh.com and ebooks.addall.com. When a free book that I was interested in was only available at Amazon, I "purchased" it for delivery to my computer (Kindle for Mac). So I had already accumulated quite a few gems before I bought the K3. I have found some good deals on bestselling authors and also discovered new authors that I probably wouldn't have tried otherwise.
The second reason I bought the Kindle is that it seems recently that more authors are signing exclusive deals with Amazon for their ebooks.
The last reason is that the newspaper and magazine content available on the Kindle is better than what I can find at the Sony Store. Perhaps not an issue at the Barnes & Noble store. Also I like that Fetch News in calibre and Instapaper will email me my news downloads to my Kindle address. No USB hookup required. Very convenient.
You probably aren't anymore "nutso" than the rest of us on this forum!