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Kindle's value is not the hardware; the hardware is average. The value is being able to make any book you want show up on the screen in 60 seconds.

I suppose you can use Bittorrent to get the books, but that is inconvenient and not nice to the authors. I agree that Amazon's DRM is annoying, but it is very easy to remove if you are morally opposed. (Sometimes I am in the mood to read on the computer, so I break the DRM for that.)

The hardware itself is also hackable. Jesse Vincent has written some software for the Kindle that lets you view any ebook on it; not just Amazon's.

Isn't the bebook already open source? Also costs less. I've been happy with mine so far.