Now that you've gotten past the WTF did they do that reaction, I think you should take a close look at the specs. It's not fair to compare this to the Wifi iPad because the Viewpad 7 has 3.5G as well as Wifi and Bluetooth. That means the Viewpad 7 is actually $30 less than its closest iPad competitor.
For that $30 you lose some screen real estate, but you gain 2 cameras, Android v2.2, a light sensor, and the Android Market. That could be a fair trade.