This reminds me of the Porsche Cayman. This is a car that COULD have been faster, and better, and still under-cut the 911 on price. But they couldn't do that or people would buy it, rather than the 911.
Put a camera on the iPad, and suddenly a few more people who'd have bought a Macbook, buy an iPad instead.
The iPad hasn't been put together by a designer. It's been put together by an accountant, and it's worse for it. Skype/iChat with Video would make it a much much more useful device, but for the sake of $10, they've left it out. Even the chassis for the thing will, like the iPod Touch, show it to have the space ready for a camera.
And they culled it.
They're not making the best product they can. They're making the worst product they think they can get away with. That entire iGasm video with Ive etc. is one massive massive lie.
And it's damn annoying, because it's a device I'm beginning to like, but this really is a sticking point.