Redfly Mobile Companion ... a sad sad device

I was partly disappointed by the fact that Palm killed their Folio project. But then Ausus Eee PC released and all is well. While I am waiting for the 9 inch Eee release, I saw this product called Redfly Mobile Companion and told myself: man, for US$500, this device is a joke.

But then, it proves that there's a US$500 or under market for ultra portable device, a market that I am very much interested in.