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I don't care for the 'chrome' of iBooks, the lack of discoverability of the iBookstore (including no search engine access), and lack of reading apps for non-iOS devices. Since the price of everything by definition (agency model) is the same as every other ebook storefront, there's negative incentive to purchase any ebooks from Apple, since every other store does not have these limitations and is thus a better value. One of the best things about ePub is the portability (even with DRM) and Apple just doesn't provide that.
Of course if it all goes DRM free most of these objections evaporate. But I'd be very surprised if that happens in the next couple of years.
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