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I think it'll be very attractive to the same audience that bought NOOK color devices in the past. Having in-store live support is huge for a lot of people, especially those who are not tech-savvy and don't have a smart friend or relative nearby to help them. B&N also holds NOOK gatherings at many locations, so there's the community aspect.
If B&N finally pays some serious attention to their software, fixes long-standing features, and finds ways to add value (e.g. free in-store reading), I think it will be attractive, assuming they keep it at a competitive price.
This does let B&N stock devices without the huge up-front investment in hardware development and inventory. Samsung is sharing some of that risk.
It'll really come down to how good a job they do with the software. Going by the images I've seen so far, they're doing a lot more than just loading the existing NOOK Android app on it.
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