For my daughter's recent birthday, I did a hand-me-down of my Nexus 7 to her, along with a new (pink) case. She's thrilled, of course, but I'm currently without a tablet. I had to make this call prior to Google I/O, and now we learn that there isn't a Nexus 7++ to be announced.
Option 1: pony up for another Nexus 7, using this opportunity to upgrade from my earlier (and insufficient) 16GB to a new 32GB model. I don't think I need the cellular support, since I can always slave it to my phone.
Option 2: wait for whatever's coming next. It's been a year since the Nexus 7 was announced. There will presumably be a new one, presumably with a higher-resolution screen, if nothing else particularly novel.
Meanwhile, for my next business trip, I'm dusting off my old 2nd-gen Kindle, which can read books just fine, even though it doesn't do much of anything else. (With the Nexus 7, I'll download and transcode a bunch of shows from my TiVo to watch while I'm away.)