I was a bit skeptical on this form factor, but after watching a few reviews I think I'm convinced. The heart says yes, bank balance says definitely no.
I think with Apple's software optimization, it'll be a really solid device. The only thing I'd be missing are the Pro level cameras.
It is a form factor that looks silly at first but is really nice once you have it. But yes, the price for access to this is just too high for a lot of people.