No, not because of the poor name, but rather because of networking stability and bandwidth issues. I could not find much for details, but apparently several universities including Princeton and George Washington have banned the device and relayed concerns to Apple. In typical Apple fashion they are apparently “unaware” of any issues, (personal note: I have used Apple products for years, but they are not known for jumping all over problems, and this is a first generation device).
So as some may recall the first generation iPhones were pretty laughable, but look at them now. However, the Android platform is certainly gaining parity, if not overcoming the somewhat closed Apple platform. I think this means it might be wise to wait for the next generation of iPad. It also probably means that everyone will not be sporting an iPad loaded with etextbooks when we all return from our summer jobs.