The current iOS keyboard isn't bad, it just isn't very good either. Having used the webOS touchpad keyboard, Swype and SwiftyKey on Android, and a handful of others the iOS keyboard is adequate. But every time I have to switch to numbers to input a password or the like I wish something like SwiftKey was available. Even without swype/flow mode both of them are more accurate and have better predictions/corrections. Depending on how much you're typing the keyboard can have a major impact on the overall experience with a device. I don't use messaging a lot from my phone but on days I have a conversation going on Facebook I tend to use my Nexus 4 more than my iPhone just because the keyboard is better.What's all the fuss about the keyboard? I'm not seeing the issue with the current one?
It's not a situation I'd consider unworkable (I haven't switched to Android yet, but II'm close for other reasons). Now that other mobile platforms have continues to improve it is a place where iOS lags behind, though. I doubt a lot of people are going to switch platforms just because of the keyboard, but for some it may be one of a handful of factors.