Are you really *that* myopic?
The iPad has sold phenomenally well, to the extent that Apple are on record as saying that it has exceeded their expectations.
"It's expensive in price, and cheap by feature comparison" Actually it's priced about right when you consider the quality of materials and components. As for features, they are actually really well implemented and the thing is a delight to use. I, and literally millions of other users simply do not need full desktop power (which netbooks rarely *actually* provide) all the time, for most activities, the feature set that the iPad has meets and often exceeds my requirements. If long lists of poorly implemented features floats your boat, then this product won't, but then this product obviously isn't aimed at you.
"The iPad is also pretty hopeless as a school/college device." How so? You used one?
"So, are you sure its the iPad that killing the sales?" IPad introduced start of Q2 in US, sales slump of EeePCs in Q2, Apple report higher than expected sales. Q3, EeePC slump expected to continue, iPad released in more territories. Apply Occam's Razor...