Does this mean you don’t need to own a PC? Not exactly. There are still tasks that tablets struggle with: editing photos on the iPad is possible, for example, but generally easier and more enjoyable on a PC. The point isn’t that a tablet completely replaces a laptop, however; the point is that it obscures the need to buy a new one.
Matt Smith (not that one) spends three months with an iPad to see how much of his daily work he can do without a laptop. His results are mixed but positive.