Electric cigarette. Just another drug delivery device. I suppose if someone wants a nicotine hit, it's the healthier way to go.
Edit: I just noticed that apparently you can "smoke" it with zero nicotine content if you want.
I say if you want to smoke a pipe, smoke a pipe. It will be nothing like smoking a real pipe and IMO is just a bull crap marketing tool to make it into the shape of a pipe.
I don't trust any of those "fake" smoking devices.