I'm gonna go out on a limb here and say that, y'all, collectively, are not the target audience for this thing. That said, we should be celebrating, rather than bitching. Here's why.
Raise your hands, please: those who've installed LogMeIn on their mothers' computers.
LogMeIn is a crutch, and you know it. You know damn well why you installed it, too. It's so you can support her when shit breaks every couple months, or when she can't figure something out.
The nice thing about the iPhone OS is that it's tight. My mom had never used a cell phone in her life, and figured out how to make a call with my iPhone in seconds. The OS is like an appliance, reliability-wise. The target audience is users, not the nerd herd, and the interface reflects that. It's basically a $500 ticket to never having to support Mother again (or really any user that "just needs the basics").
If you really think it's just a big iPhone, look at the iPad interface video (from about 1:00 - 3:00). It was the first time I actually was like, holy shit, it looks like one of those futuristic computers out of a Hollywood movie; except it actually makes logical sense, yet retains teh bling. Unlike every other OS, multitouch is "baked in" to the iPhone OS, and you can really see the level of refinement in that video. All that shit that Microsoft wishes it could do with multitouch, this thing actually does.
No, it doesn't have multitasking or an OLED display or a webcam or a fucking JTAG header; those people can vote with their ducats and get an HP Slate. Have fun troubleshooting your wireless network in Windows 7 or GNOME using your fingertips. Ugh.