As a collectible and/or vintage product, they are historic and awesome. For what you want to do with it (e-reader, YouTube), it is useless. No modern, nor semi-modern apps run on iOS 5 anymore, jailbreaking won’t change anything since the old apps won’t connect to modern servers.
The way I’d use it is as a note taking device when I’m using my old Macs, or as a cool shelf item. Unlike Macs from the same year (2010), which can run Ventura with a hack, and be upgraded to at least an SSD and 8GB of RAM (apart from the MBA), the iPad 1 & 2 have zero purpose as a modern device anymore sadly.
