But the iPad is a pad. Consistency matters.
The success of the iPhone confused the naming guys at Apple. iPhone means phone + iPod. At launch, the part with obvious value was the phone (we knew that) and the iPod apps were a bonus that ended up being really terrific. Success.
The formula doesn't work in naming the iPad. We already have the "i" part, and we don't value the Pad part.
And, just as Apple blew it with the word 'book' (Powerbook led to Macbook because they didn't own the word power--IBM made them change it when the processor was changed--which led others using netbook, which they don't own at all), they can't own the word Pad either. Thinkpad is made by Lenovo, not Apple.
It's a mess. It's sloppy. It communicates nothing.
When in doubt, design like Apple but name like Procter and Gamble. Pringles anyone?