Nintendo's new handheld?

Nintendo announced their 3D console: the 3DS. Apparently, you won't need glasses to play the games and is fully compatible with older titles. More will be revealed at E3 this June. I don't think this would work. People already have their DS and what's the point of getting another? Plus not everyone has an HD set so why would anyone get a 3D handheld? Well see what develops.