Related story. I realize this is pretty much a best case scenario, and I do agree more or less with RocketGnome's assessment. For every success story you hear about, there's probably 99 catastrophic failure stories, you don't hear about.
There's no quality control.
Yes there is. Apple regularly remove software from the AppStore. As recently as 5 days ago, although in this particular case not so much a matter of quality control, so much as competition control.