....well, only a fool would expect and ask for a touch-based display to operate like a notebook and support pointer-based hardware such as pen-tablets. the ipad is a touch-based OS and device, and is not designed to mirror functionality found in other OS & device models.
I'm sorry, but a drawing app on the iPad is what a lot of folks have been asking for. And not something to finger paint with. If you don't see the potential, that's your prerogative. The iPad will remain a sort of toy/media consumption device until it gains extensibility that lets it stand on its own a bit. Right now, it's stuck in 2nd place to a desktop/laptop and at least for me, it's not even worth its cost. My MBA does everything and is just as portable.