First off, Apple does not have the time or ways to check for security risks. They don't have the source code, and we've already seen apps with banned talents appear. Moreover, security research shows that many iOS apps can access personal information (and many do send that off to remote servers without Apple making a peep).
As for approvals, apps that "duplicate" Apple functionality are banned. That alone means a lot of cool stuff is not available from their store.
You also cannot write a homebrew app for your friends and give it to them to use, unless you want to pay $100 a year to keep a dev license going. That's another reason why there's so much crud in the app store.
Unfortunately, we've also seen apps approved that should never have been, such as the baby shaker one.
Don't confuse approval control with a guarantee of either security or quality.
And once an app that gets by with security risk is found, it is removed. Compare this to getting an app off of site X. Does site X remove the app because it was found to be a security risk? And should an appear turn out to be stealing information, which is easier to trace to the source, one that went through the app store registration process with apple or on on site X residing somewhere in Russia?
You're narrowly defining the methods of security that Apple's app store can provide.
Last edited: