Yay! Google discovers the Netbook category....2 years after it died to the iPad juggernaut.
This thing is DOA.
There are things a tablet will do better. EBooks is just one. Touch screens have opened up a whole new category of apps. This thing lacks the power of even a netbook....and thats a statement I never thought I'd be typing. On a tablet no less.
Once upon a time, there was a similar concept.....it had its fans also, journalists mainly. It ran all the most popular Microsoft programs, embedded in ROM. It even let you connect to the "cloud." Road warriors back then raved about it and proclaimed all the new "laptops" from Toshiba, IBM, etc. were overkill for the work an average person needed to do while away from their desktop. Their arguments sounded almost exactly like the OP's.
Behold this Chromebook of yesteryear.....
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http://oldcomputers.net/trs100.html