The iPad is (at least for now) the perfect device for consuming media (on the go) and for casual browsing and news consumption. In my point of view there’s no reason for most apps to live in the App Store, the majority would work equally well (if not better) as websites or web apps with the benefit that they would be accessible on all platforms, be free from Apple censorship and are easier to develop (just count the number of HTML vs. Objective C developers). There are a few instances were the speed and processing ability is needed (such as games and media players) but most apps are basically information presenters and the web is more than adequate of handling that.
However, there are some optimizations that can be done to most websites for optimal display and a few other issues that needs to be adressed to allow websites to feel as native apps on the iPad (and other mobile touch devices).