I own a first gen Nexus 7. IMO, it's the ideal size for a personal video-watching device--not large enough to be cumbersome but with a big enough screen to make TV show watching thoroughly enjoyable. It's also ideal for reading articles and great at viewing "full web" (non-mobile) pages. The price (under $200) was the main selling point to me, and I really did feel like it was amazing bang for the buck (especially compared to my wife's similarly-priced Kindle Fire).
Lollipop rendered my N7 basically unusable (would randomly shut itself off--mine, luckily, wasn't one of those whose device got caught in the infinite reboot cycle), but Thank God there's Cyanogenmod, where my N7 is a big sluggish but still perfectly functional. The sluggishness would probably have been enough to make me consider buying a replacement, and I'm sad that there isn't one (I will never buy another Samsung mobile device, and I hate the Kindle Fire series).
Ah, well. I'm used to being part of an unpopular and unprofitable niche market--I'm still waiting for someone (anyone) to release a new full QWERTY keyboard phone.