That's pretty cool. There are some good ideas that can be implemented for the iPad, and if several iPhone devs could get together and apply together, I think this would be quite an opportunity.
I am skeptical because none of the areas that they are concerned with seem like they will lead to innovation. Do we need another Yelp app? It seems like that's the type of thing they would (of course) love to fund (and make money off of).
