Ridiculous. As if Apple somehow has ownership over that time icon. However, the hourglass icon as proposed in the comments would work. But still, this is such a perversion of what the App Store was founded upon.
This has to do with consistency in the interface, and really has very little to do with the app store itself. Any mishaps in the experience of an app on their platform translates into a bad experience on the phone in general. How ever the icon is being used on other platforms doesn't matter because it's not associated with the experience on the iPhone platform.