This thread reminds me of the philosophical discussions I used to have when I was in my 20s, such as whether popular music is as "good" an art form as classical or jazz music. People who argued that classical and jazz are better used complexity as their primary criterion: it takes years of musical education and an imagination capable of arranging complex musical forms to be able to write, say, a symphony, whereas anyone with no formal musical education and a bit of inspiration can write a three-minute pop song. Therefore Beethoven's Ninth Symphony is far better than "Yesterday" by the Beatles. People who argued that pop music is the equal of classical and jazz used emotional impact and staying power (i.e., timelessness) as their primary criteria, and pointed out that many Asian cultures value simplicity in art as much as they do complexity. They also pointed out that someone with a classical music education but little talent can write an uninspired, derivative, soulless symphony. By that standard, "Yesterday" is as great a work of art as Beethoven's Ninth.
I used to go back and forth on that argument, generally siding with the classical/jazz proponents, even though my own tastes have always leaned more toward pop music. Now that I'm middle-aged, I no longer worry about such questions -- either I like something, or I don't. I've always tried to broaden my tastes and knowledge, and I appreciate many things (musical and otherwise) that I didn't when I was younger -- but at the end of the day, some things resonate with me more than others. Some fall under what most people would consider "high art," whereas others certainly do not.
So is the iPad a content creation tool? I would say so. Are there things that can be done on a Mac but not on an iPad? Of course. Can some things be done on both, but more easily on a Mac? Yes. Is the iPad a better content-creation tool for some things? I don't know, but my guess is yes, although the Mac is still more powerful overall.
Like the OP, though, I'm amazed at the power of the iPad and inexpensive apps, especially since it's still such a young product. No, GarageBand for the iPad isn't as powerful as GB for the Mac, which in turn isn't as powerful as Logic -- but it's $5. Back in the 1990s, the idea of a useful piece of musical software costing only $5 wouldn't even have entered my mind. I can imagine GB 4 or 5 for the iPad being as powerful as the current version of GB for the Mac. What I'm hoping is that the iPad eventually becomes powerful enough for all my needs and can be connected via Thunderbolt and/or Bluetooth to an external monitor, keyboard, and other peripherals. Then I wouldn't need to own a separate computer.
For what it's worth, Beethoven could have written and recorded a sample-based demo version of his Ninth Symphony on a Mac running Logic, but not on the current iPad. The Beatles, however, easily could have written and recorded "Yesterday" on an iPad running GarageBand. They wouldn't even have used up all eight tracks. If that doesn't qualify as content creation, I don't know what does.
