Yes, that's exactly what it is. For those of us that use MacBooks and have become used to multi-touch it's an absolute pleasure to finally do away with mice.
True, but will it replace everything a mouse (esp Magic Mouse) can do? I could not imagine using a trackpad for Photoshop or video editing. Ugh.
Very very big changes have to be gradual.
Think about it...
True dat, true dat.