Tablets are great for multimedia: reading, watching movies/TV, music, surfing the web, social networking etc. Unless I don't have my tablet on me, I use it for everything instead of my phone. It's nice for browsing G+ and XDA too. I guess it's just more useful because of a bigger screen.
I'm not a gamer, but I know a lot of people on here do a lot of gaming on their tablets.
I guess you just have to experiment and see what you like using it for. It's a Nexus device, so there are tons of ROMs, kernels, and tweaks available, and that stuff is a lot of fun to mess around with.
Nexus 5 16GB on T-Mobile LTE:
CM 11 + hells-core + TWRP || Nexus 7 2012 32GB:
Stock 4.4 + Xposed + franco + TWRP
Nexus 4 (cracked )|AT&T Samsung Galaxy SII i777 (sold)|AT&T Samsung Galaxy S Captivate i897 (sold)
All in One Guide for Samsung i897 Captivate, i9000 Galaxy S
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