Source: Apple Inc./via BloombergApple‘s new fancy gadget, the iPad, isn’t so fancy after all. According to THR, Hollywood executives were hoping that the sexy new tablet would be a game changer for film and TV studios, but it will take a lot more than an iPad (which is similar to a laptop and e-reader) to revolutionize the industry. After all of the hype surrounding the device, people in Hollywood are a bit disappointed.

It turns out that the video programming on the iPad is no different than a laptop. Consumers will get to buy and watch TV shows and movies through the iTunes store, just like in the past. The only difference is, the iPad isn’t in the thousands, it starts off at $499. If the iPad is widely used, film and TV studios could benefit from the new gadget if there’s a surge in online sells through the iTunes store.

Apple Inc chief, Steve Jobs, showcased the iPad yesterday to hundreds of reporters and told them that the iPad is much more than just a handy laptop or a full-color e-reader:

“It has to be better at these kinds of tasks than a laptop or a smartphone otherwise it has no reason for being.”

A full-color experience does sound appealing, but I would never trade my Macbook for an iPad. But this isn’t about me, this is about Hollywood executives taking the iPad into their work environment. If anything, it will just be another middle-man between the studio and the costumer.

Do you think the iPad will change the future of TV and film?