I love my iPad (even though I don't have a use for it)
But I'd agree it is not in any way "Good Value For Money"
In the sence of, if I take my same £500 down to PC World (or browse online) I could buy a full laptop with a higher res screen, better speakers, a real keyboard a hard drive MASSIVLY larger than even the top 64GB iPad, a Full OS and be able to run any software I like on it.
That Laptop would be a far far better deal.
We are paying a lot due to the novel touch screen, size and the Apple Brand.
If you want an iPad you just need to accept that.
It's a lovely device (if you accept it for what it is) but you can't really call it Value for Money compared to what else you could buy with the same money (computer wise)
One could argue that such a "limited" device should by it's very nature be less than a full laptop's price.
Just accept it for what it is.
At least it will retain good resale value