In my opinion I already thought it was a rip off. No UMD drive I mean wtf? I understand they want something strictly for downloadable content, but what about those people who have hard copies of the game? Now they would have to buy the games they have come to love... AGAIN. Anyway, as said Michael Pachter, it turns out the rip off may actually be one considering Sony is charging more for their PSP Go than the PSP 3000 even though making UMD drives is more EXPENSIVE than putting 16 GB of flash memory in the system.

Quote Originally Posted by Michael Pachter
The US$ 169 PSP-3000 is a profitable device. They make money, so it costs less than that. The disc assembly for a UMD costs more than 16 gigs of flash does. So this new device doesn't cost them as much to make as the PSP-3000 and they jack the price up US$ 80... They're ripping off the consumer… They're making a lot more money on the PSP Go than they’re making on the PSP-3000.
Bonus Round Video Game, Ep: 305 Part 1: Post E3 Sony | Game Trailers & Videos | GameTrailers.com