It's so light and portable. I can play games, surf the web, watch Netflix/Hulu Plus, and use the Kindle and Nook apps to read books.
Now, the price of the iPad is more ($500 for the 16 GB wifi-only device) and the Kindle Fire HD is about 1/2 the price.
It all depends what you want it for. I use Keynote, Pages, and Numbers to do my schoolwork on with the iPad, but if you want a device just to read and watch Netflix/Hulu Plus, I believe the Kindle Fire HD can do that.