At the time there wasn't much competition. Nowadays I am looking towards something smaller that is a bit more portable, as the iPad is a bit big at times. Great for movies and TV shows and picking up off the couch to check your email or look up movie times, so great for Google Maps with its built in GPS and I don't have a problem holding it for reading. Just sometimes when you would like to take it out its just too big to just take with you when you don't want to be carrying much. Plus, its not a widescreen resolution. Nowadays I much prefer a widescreen resolution on things, it works better for reading too I think.
Thankfully it seems that the 7 inch wars are heating up just at the right time. I am interested in if there will be an iPad Mini of any note before committing to an upgrade.