I'm not sure I beleive it either, but that's what the email said. I've looked over the selection, and all of the titles I checked were selling for about half the list price. Of course, I could also get a paper copy for half the list price, so Zinio's prices weren't all that good.
I have the latest version of the Zinio Reader, and I would strongly discourage anyone from trying to use it for digital textbooks. It works okay for passive reading (magazines), but active reading (textbooks) is beyond what it can do. It has no highlighting, bookmarks, or annotation abilities.
This makes no sense. Zinio are selling a product that their software can't adequately support. I'm going to assume that they didn't make a mistake here, and that there is a second Zinio Reader I don't know about. I'll go look for it.
If I find it I'll post a review.