Most consuming operations require you to produce: chat, answer, comment,... Those things are a pain on a device without a keyboard. Also, there's content that can't be consumed right now on an iPad (a vicepresident of Google pointed that pretty clearly today at Google IO talking about his young child browsing websites of cartoons that use a lot of flash ).
And most of that is done in the twitter style of writing, less than 140 characters, brief answers, etc. Those brief answers are perfectly fine on an on-screen keyboard.
As for flash, I'm partially in agreement there. I'd rather have a small slate made by someone else than one made by Apple and be fully featured. Android? Maybe. I think I'd prefer something with either WebOS or Ubuntu for ARM.