I too have Echo devices in every room of my house and I have found them to be indispensable (controlling lights/thermostat/appliances, managing grocery lists, calendar appointments, weather, traffic, multi-room music, conversions, store hours, movie times, timers/alarms, definitions, spelling words, the list goes on...)
The only thing I wish it would do is real phone calls and text messages (nobody is using echo calling on a regular basis, let's be honest), and the music sound quality is pretty mediocre. If HomePod can manage all of the tasks the Echo already can and adds phone calls (I know they already said it will do text messaging) then I'm pretty sold. $350 is an outrageous price though, I'll have to order them one room at a time and gradually shift.
I have an iPad next to my computer and I'll occasionally shout "Hey Siri" commands at it, and it does nearly as good a job as Echo does, I think the issue with Siri understanding people is the crappy short-range microphones on all the iDevices and in car systems - I'm confident the HomePod will be as good or better than Amazon/Google at deciphering speech.
I also can't even begin to imagine all the possibilities about handing information off to your phone/watch/etc and all of the continuity features they could add if they take the time. I hope HomePod is like the AirPods in that it has a low key release without a lot of fanfare and overpromising on features and turns out to be absolutely fantastic with all the little Apple conveniences and ingenuities that only they would take the time to come up with.
That said, if AmazonFresh ever expands to my area I'll probably switch back to Echo because ordering groceries through it is likely a game changer for me (if it does it well).
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I think what it needs is a sort of "mini" version with much cheaper price point. I have some uses for controlling HomeKit devices via Siri around the house, but there's no way I'll purchase several HomePods to do that.
I really hope this is in the pipeline as well.