It doesn’t suck — but, a few caveats.
No 3G connectivity, except for tethering to a BlackBerry — obviously RIM is going for the enterprise market. So why call it PlayBook? Strange branding decision.
Also, the ad shows the PlayBook doing a lot, but what it doesn’t show is a person doing much with it. Mostly, the pretty screens just schwoop around, looking all pretty and schwoopy. Apple’s iPad ads on the other hand, show people doing cool things with their shiny new toys, flicking around the screen with their fingertips.
Apple shows what you can do with your tablet. RIM shows what your tablet can do. That’s an important marketing distinction, and, I think, a mistake on RIM’s part.