Well, let's see... My land line home phone last dropped a call, I think, in 1957. The voice quality of my home phone is significantly better than my cell phone. The handset holds a charge for about four days. I can answer the phone in most rooms in the house without carrying a phone around.
Here's a phone that presumably can access both data and voice streams, stays charged in its cradle, and presumably uses the Verizon land line network, a network that charitably is somewhat more reliable than the VZW network.
Of course, you can't take the phone to the store. And you can't download games from the Market. So? There's a huge market for phones like this.
That huge landline market you speak of has been dropping 4-6 percent a year since 2000...and that drop per year is only increasing.
For people in remote areas that don't get reliable cell phone coverage, for power outages, for calling 911...yes, the home phone has it's uses. Unfortunately I've just named almost all of them, and this phone would also suck for those power outages...
In this economy, why would someone have two phone lines when one is clearly enough? What will this $150 phone do that a $20 cordless phone and my home computer (which almost everyone already has anyway) won't?
Releasing with an older operating system? Things move so fast these days, why would you NOT release on the latest and greatest operating system? Hooks up to wifi but no Skype or other IP calling? fail.
It's like they announced a new cassette player...
From a marketing standpoint it's advisable not to assume that the entire nation is made up of single 20-somethings.