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I would not be surprised if Apple banned ebook apps from the iPad (and possibly the iPhone), and I would not be surprised if they did not. Either is possible, and I can't judge the odds. We will know within a month or so, when Apple starts approving (or not) iPad apps.
The best argument I can think of against banning these apps (from Apple's point of view, remember they will be giving up ebook revenue) is that the iPhone apps will work "as is" and are harder to ban retroactively, so is it worth preventing custom apps when iPhone apps work anyway.
There is no doubt that the iPad is a better ebook reading device if it has multiple ebook apps available. This is partially because of DRM lock-in (can't read your DRMed Kindle or Sony or B&N ebooks with Apples ebook reader) and partially because one reader app does not suit all readers. More choice gives a better reading experience on average.
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