When I was maybe eight years old, I starting making HyperCard stacks. I very quickly learned how to create moving, talking stories and scenes. They were my own little disjointed narratives to click around in. Mostly they were centered around how awesome Captain Picard, and Star Trek: The Next Generation were. Sorry, still are.
There needs to be something to make the iPad a tool for creation, not just for consumption. Sure, Apple makes buttloads of money off of iTunes… but think of they buttloads of money they could be making delivering your iPad “HyperCard stacks” to the world. They already do this with iPhone apps, but it’s a too-exclusive club (admittedly of 40,000+ people).
David Pogue said in the New York Times, “the iPad is not a laptop. It’s not nearly as good for creating stuff. On the other hand, it’s infinitely more convenient for consuming it - books, music, video, photos, Web, e-mail and so on. For most people, manipulating these digital materials directly by touching them is a completely new experience - and a deeply satisfying one.”
Now imagine creating things using that same tactile movey-grabby-flingy interface. I would dare say that would be a little more “deeply satisfying” than browsing your music collection in a fun way.
Potentially Quartz Composer, mostly used for making screen savers right now, could be leveraged to create this. It has all the right moves, in that development is very very graphical. You drop in components and string them together with virtual wires, and it handles audio and video with ease. It’s not the answer, but it could be the seed of one.