it's meant to be some enhanced internet browsing tool.
lots of clever things happen when you rub the screen in certain ways.
the apple genie pops out and guides you across the internet on an IPv6 magic carpet far far away from 127.0.0.1
for me it looks awkward. I saw one on the F1 coverage from the BBC being used as a glorified clipboard. Later, the presenter was using a blackberry to look at twitter comments, rather than the iPad on his lap. I didn't get that.