It's a repost.. but whatever.
It's not meant as a computer, more of a home internet device. They are trying to change the way we view online news sources and compete with the amazon book thing...
They want it to feel more like a news paper and you would pay for subscriptions and buy books and you could surf the internet and what not. It's pretty much a giant Ipod touch.
There have been some more official leaks like from BBC and what not after apple contacted them about the whole news subscription bit.