I have seen a lot of talk about how launchpad will duplicate the dock and the applications folder. While I can't disagree about the dock being redundant, I have to disagree about the app folder. If you will notice, there is no app folder on the dock in Lion. Essentially, the launchpad replaces the app folder. I can't believe so many discussions have been had on this, yet no one has noticed this key change. Even Engadget missed it in their article about Lion today.