iPad Nano VS Nexus 7

So once again I'm reading more rumors of iPad Nano coming out this fall. 
This time the reason is to compete against Google Asus Nexus 7.
If you believe the above statement, this is the part where I tell you you're stupid since the profit on a Nexus 7 is a measly $15 according to cnet and Jeff Brown of UMB

An iPad Nano can not and will not compete against the Nexus 7 and Kindle Fire base on one fact alone, price.
Apple's margin on their devices are way too high and price alone will remove all possibility of any sort of competition.

If you want an iPad Nano, take your $199 to your local Apple store/retailer and buy an iPod Touch.