I bought my Dell Mini 10v (from which I'm posting now, actually) for one reason: taking notes in my university courses. I didn't need a lot of horsepower, just something lightweight that had a long battery life. An Ultrabook would be a bit spendy for what I needed even if it existed at the time. Android tablets were all but nonexistant, and I also needed a physical keyboard. I do however now own an Asus TF300T for media consumption and for when I need to spend a long term on battery.
Do I regret buying my netbook? Not at all - I certainly got my money's worth out of it, and I still use it from time to time, primarily as a testbed for various Linux distributions and configurations. VMs are great, but nothing beats actual hardware for real life testing environments.
I knew the netbook form factor's days were limited when the first models launched, but I must admit I am a little sad to see them die off completely.