Right. That's pretty much what this is and as such, the inclusion of the stylus feels like an afterthought. That doesn't mean it's a bad tablet, but for $600 there are much better tablet stylus options.
Without Toshiba's TruNote app, there wouldn't be much in the way of stylus-y things to do on the Excite Write. The app, while offering virtual folders to organize your work, doesn't offer much in the way of creative options. It's a bare-bones app that is ultimately limiting to the tablet experience.
The tablet holy trinity of connections -- microSD, Micro-HDMI, and Micro-USB -- are three successful ways Toshiba adds value to the Excite Write. Well, mostly successful. The Micro-USB port has no charging functionality and a proprietary charger must be used instead.