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The computer didn't underline it red so it must be right!
Alternatively this could just lead to a more Steam like system and games would be attached to your account and allow you to download on any device and play as long as you were logged in. I wouldn't mind that as long as they had sales on games like steam does and an offline mode.
Also, for K-12, although the thought of being able to buy books for $15 sounds great I think the start-up/maint costs will be too much. Hardware will increase every year, and hardware requirements for software will increase to match that. You end up with 4-5 year lifespan before you have to buy new iPads because the old ones aren't compatible with new textbooks/educational software. Plus you add in the IT related costs of having to maintain a fleet of iPads along with replacements for breakage/insurance premiums. Most schools use books for many years before they replace them with newer editions.
I'm not trying to down play the how awesome it would be to go digital with textbooks, I just think with the resiliency of books and the cost of hardware this is not going to be the revolution apple thinks its going to be, right now anyway. (But then again, maybe I'm wrong)