Actually no. The folks who judge it on the "hardware specs" will accurately say it is crippled and sucks, but will miss the entire point.
The folks who see and enjoy and revel in the new I/O and GUI paradigm, will get it to a large degree, but will not catch the "magic".
The folks who use it and experience it changing their lifestyles will be the "thing". They will be golden. For them this slate thingy will be SICK.
It's hard to really understand just how cool an iPhone is if you read a spec sheet, judge it based on reception and data plans. You have to do stuff with it and realize, hey, "I could never do this before, and I can do it ANYWHERE".
Apple really is about lifestyle.
Rocketman