[stonetools]

MP's analysis nails it , and really there isn't much to add. It is instructive that his opponents can only respond with Ad hominems.
Two companies - Financial Times and Playboy- have done web apps for IOS , and i have looked at the sites and the reviews. The reviews have praised these apps as promising 1.0 efforts, but apparently, they still are not as good as the native apps in terms of UX. IANAIT person, but my understanding is that HTML 5 is an evolving standard and that it will be five years or more before web apps can provide the same experience as native apps.
Kobo has said in it's press release that it's HTML 5 effort is intended to be complementary to it's iOS app, not a substitute for it. Nevertheless, I believe that Apple's action will prompt Kobo and other companies to invest more heavily in HTML 5 apps, which will be a good thing. My expectation is that those investments will lead, not so much toward web app replacements for native apps, but toward offering streaming subscription services a la Netflix.