Those are some great points, Paul.
But I think you are still thinking of a more sophisticated user than the audience. Think business person that hates their laptop and just wants to do email or look at a presentation that was sent by email. Think of grandma who wants to keep in touch with her grandson on the trip.
Then making a quantum leap forward, think of a sales force that a company wants to equip their low-tech salesmen cheaply with a 3rd-party sales force automation package, but they want low maintenance and they have to supply them with smartphones anyway. It also has to look simple, because they hate the problems and bulk of a "real laptop". Is there a better and simpler solution right now? I don't think so. Not yet.
But if you want it to "do more" (like I do) it will be very disappointing to you. My point is that anyone that wants to "do more" is not the target market. I'm speculating, but it sure looks that way to me.
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