People are crazy

Midtown NY today (video: people lining up 500 deep to buy an iPad)

If I had bought the original iPhone, my iPhone right now would not be able to use the 3G network (and some other stuff) and would have cost twice as much.

Why in hell are these people lining up to buy a product that is crippled in significant ways, by purposeful design by its seller in anticipation of the next marketing wave for V2 ?  I consider myself an early adopter, but I've also lived long enough to know that buying the first of anything is a losing proposition.