Of course you can compare PC style hardware specs, people have been doing that for years! Contrary to what you may believe, apple products are not works of art, all though they are priced as such!
The facts are that the ipad is an incredibly weak piece of hardware and technology (giant itouch), with extremely limited connectivity, closed OS, and not even a standard screen format, and yet it is priced in the £429.99-699.99 price range, which is just utterly insane! Peeps are buying it yes, I actually feel sorry for them. Hype, hype, hype.....
As for the German device it looks excellent doesn't it? What the ipad should have been really, then this thread would not have been as it is. Without the PR/hype machine of the mighty fruit I doubt it will impact the ipad, but the sensible, tech savvy people (Read: Not peeps with more money than sense) will love it