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Aside from the convenient packaging, couldn't you have the same exact functionality by using a good quality 7200rpm 1TB USB drive with the original Airport Extreme? Same 'n' wifi, same disk space, etc.
well, no, for several reasons.
The first "n" Airport Extreme version, inexplicably, didn't have gigabit ethernet, when every other Apple product sold with ethernet at that time HAD gigabit built-in.
An upgraded model eventually shipped with gigabit, but connecting enclosures to it via USB and actually using AirDisk proved disappointing. And Apple didn't seem to concerned about fixing that.
The Time Capsule model with its drive built-in, presumably, will out-perform anything connected over USB. The real issue, though, is this: was Apple pimping sales of these new Time Capsule models when it removed Leopard support for wireless Time Machine backups to drives plugged into an Extreme? And will that capability ever be added back?