It's going to be running on basic hardware. In addition to the 7" capacitive touchscreen, the Spark tablet has a 1GHz AMLogic CPU, 400MHz Mali GPU, 4GB Flash storage, SD card slot, and Wifi.
The specs are rather light compared to most mainstream tablets in the same price range, but that's no surprise. At best this is a niche tablet, and you just have to accept that they come with premium attached. And what niche it will be. This tablet is particularly going to appeal to open source enthusiasts.
Unlike Android, the Spark tablet tablet is going to ship on truly open source platform. The goal is to have every scrap of software released s open source (probably already true), and that is something you can never say about Android.
In addition to the tablet, Plasma Active is also planning a content store where developers will sell and give away apps for the platform. Users will also be able to download free ebooks from Project Gutenberg.