The problems with this program far outweigh any possible benefits it would have. First off, it is primarily a shopping program. This means that its main function is that of a commercial one, not of a content provider. More than this it assumes that people are now ready to begin creating a large, expensive library of books on their iPhone. This is simply not true, especially because the method of viewing is still fairly primitive.
Though reading a book in the application looks better than most viewing options it is still no where near as accessible as just a regular book. There are really very few books even available through download so it is hard to imagine a regular user of this application. More than this the software tends to run relatively slow, especially with the shared text function. There are a number of free downloads available from some authors, but not really enough to warrant its use. The software is free so it is hard to fault anyone for simply trying it out, but be forewarned that it is just a waste of space. Four out of ten stars. If it's eBooks you want, I suggest going with the more popular Kindle for iPhone.