NFC offers two big opportunities. The first is NFC as hardware, which is what Tagstand is doing. I agree that this is a fairly straightforward business.
The second, and arguably much larger, opportunity is the software component, which we haven't really seen yet. There's a whole world of programs and services that can be built around this hardware once it's in use.
http://zxing.appspot.com/generator/
What am I missing?