Now that the hugely-hyped iPad is out in the open, the picture has become much clearer as to what this Apple's creation is all about.

There is a mix of opinion as reviewers, commentators, pundits and tech geeks compete to make themselves heard.

Has Apple Inc come up with another winner just as it had achieved with the iPod and the iPhone? Or will this tablet device which "sits between a laptop and a smartphone" end up as Apple's first iFlop?

Just imagine if you are sitting between Hulk Hogan and a sumo wrestler, how would you feel if both move in on you?

Joke aside, it's too early to tell how the iPad tablet is going to perform in the marketplace even as industry watchers are posting their takes on the iPad tablet.

A reason to exist

Some analysts are painting a bright future for the iPad, saying it could reverse the fortunes of the tablet PC industry.

The BBC cited an enthusiastic Mike Gartenberg, vice-president of strategy and analysis at research firm, Interpret, as saying: "I think this is going to be a very successful product for them (Apple), and exceed expectations.

"Apple did what they needed to do. They gave this form factor a reason to exist."

But Apple watcher MG Siegler of TechCrunch had a different take, according to the BBC. Siegler said: "Unlike the iPhone, which filled an already well-established need, there is no existing need the iPad fills."

Rave reviews may come from some quarters, but there are as many detractors who pointed out that the iPad is not all it's cracked up to be.

Firstly, the device lacks the ability to do multi-tasking which is already a common feature in laptops, notebooks and netbooks.

Some crave for a camera and the ubiquitous, video and animation software Flash which are not there.

Others are chary of the price tag. A 32GB iPad costs US$599 while a 64GB model costs US$699. And there are a number of other connectivity issues that need to be addressed.

Writing for CNet, Erica Ogg says many folks had "expressed dissatisfaction with everything from the size, the price, the specs, and the content availbale, to the usage model."

A CNet poll run immediately after the iPad launch indicated slightly over half of the respondents said: "No way. It's not what I hope/expected."

There are some rational thoughts about the iPad though. Tech blog Gizmodo's Wilson Rothman is of the opinion that iPad is not about replacing your netbook or your Kindle e-reader.

iPad's time is coming

If you love these two products, you are likely to stay with them rather than switch to the Apple tablet.

Rothman thinks this "third" device between the smartphone and the computer will have greater appeal for the millions of people who are not on the netbook or Kindle bandwagon yet. They are the ones with "money and interest" to grab an iPad.

Industry watchers like Stad Schroeder of Mashable, the social media guide blog, feels the iPad's time is coming, but it may be very far ahead.

At the iPad launch in San Francisco on Wednesday, Apple CEO Steve Jobs had pointed out during his keynote that the iPad was better - "better at browsing, better at sending e-mails, better at reading books".

Unfortunately, as Schroeder sees it, it's not that much better.

He wrote: "If you're sitting at your computer, will you go fetch the iPad to send some e-mails on it? I don't think so. Will you play on your iPad if you have a PlayStation? Ask your kid, I'm sure he/she knows the answer."

* MARK KHOO writes about the blogging experience and keeps up-to-date with the currents on the World Wide Web. He blogs at TheNextPost.com