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I don't think this tablet will fail because of HP - it'll fail because of Windows 8.
When people see "Windows" they're going to assume the software they've always used will work. But it won't. Only the people with the x86 processors in their tablets will be able to run existing PC software. People who buy the less expensive ARM processor based tablets are going to be pissed when they find their software doesn't run.
Microsoft has made it clear that existing x86 code cannot be emulated or ported to work on WOA (Windows on ARM). What Microsoft wants developers to do is write code using the WinRT core services so they can work on both ARM and x86 devices. So developers creating new Apps will be able to easily make a version that runs on ARM and x86.
However, developers that have existing x86 PC software are going to find out they will have a significant amount of work to get their software running on ARM (how much work will depend a lot on the complexity of their program and what services/API's they rely on). The bottom line is you're not going to see ARM versions of all your favorite PC software you're using now appear overnight. And considering the work involved I doubt they're going to make it available to you for free just because you own the PC version.
And we haven't even gotten to the different paradigms between a tablet and a PC. PC software is designed around using a mouse and keyboard with drop down menus and right-click context driven menus to perform tasks. Tablets are designed around multi-touch gestures. If you take a PC application and put it into a tablet without a mouse/keyboard it's going to be horrible to try and use. So not only will software require a rewrite to work on the different ARM processor, it's also going to need a rewrite to operate correctly using touch gestures.
The amount of work developers face means we won't be seeing a huge selection on Apps when Windows 8 tablets launch later this year. And without software they will be useless.
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