Between the Kindle App, Browser ability, and Video playback I think there is enough to justify the cost if nothing more is every developed for it and your stuck with two devices.
Taken from Here:
http://h41112.www4.hp.com/promo/webos/us/en/apps-lifestyle.html
I also saw in a PDF it supports X.264 video
HP webOS supports Adobe® Flash® Player, so you can access your favorite Flash-based games, videos, and other rich interactive content.
You also get the latest technologies like HTML5, including video and geo-location support.1
Also supports
GAMES:
Angry Birds HD
Need For Speed Hot Pursuit for TouchPad
Big Boss
Atlantis Sky Patrol HD
Shrek Kart HD
ENTERTAINMENT:
HP Moviestore powered by RoxioNow
7digital MP3 Music
MoodAgent
IHeartReadio for HP TouchPad - 750 of America's Favorite Radio Stations
TuneIn Radio - 50,000 stations streaming live
Viewster
SOCIAL:
Facebook
WordPress
TextOne HD
Free Texting
NEWS:
Time Magazine
USA Today
Furtune Magazine
Weatherbug
NPR Reader
SPORTS:
Sports Illustrated Magazine
CBS Sports
Sporting News Pro Baseball HD
Pennant
BOOKS:
Kindle for webOS
Zinio
How to train your dragon - storybook
Kung fu Panda 2 Storybook
Curious George by H. A. Rey
BUSINESS:
Citrix Receiver
Egnyte
MightyMeeting
MobileIron Sentry
Pronto Forms
PRODUCTIVITY:
Box for TouchPad 50GB FREE
Quickoffice
Tap Note for TouchPad
AuctionMate Beta Pro
EDUCATION:
Audubon Birds A Field Guide to North American Birds
BrainPOP® Featured Movie
Khan Academy for HP webOS
Lexicomp
TED
White Pages
WordBook English Dictionary & Thesaurus
LIFESTYLE
Epicurious Recipes & Shopping List
iCookbook
QVC