Even when I bought it, it wasn't the best value for money. The attractions were the small size and low weight, and the fact it ran Linux out of the box.
To me, this machine is essentially a portable electric typewriter. I write novels (as if you can't tell from my sig!) and I want something I can use for writing when I'm away from home. For years, I used a Psion 5mx, which I eventually gave up on when the touch screen stopped being touch-sensitive.
I'd wanted to replace the Psion, but couldn't find anything with a decent screen and keyboard of a similar size and weight that didn't come with Windows out of the box (wanting to avoid the MS tax). I don't like to buy second-hand, as you don't know how careful the previous owner was.
Then along came the eeePc, and I thought it was what I'd been waiting for... until I saw it ran Xandros. Their patent deal with MS makes them a non-starter for me.
Then I saw the CnMBook / Alpha 400 / whatever else it's called. I noted that it had a CPU on which no current version of Windows will run (I think NT had a MIPS port about 15 years ago). I couldn't find anything not to like about their Linux distro, so I treated myself to an early Christmas present :-)