Yes, Apple maintains the system. Don't develop stupid software such as the "I am rich" app or software that interferes with Apple or AT&T's business model (like the USB modem app) and you'll be fine. There's regulation but it's not subjective in the sense that someone will play your game and decide if it's marketable or not.
Also, for Xbox or Zune you will need XNA community approval which could be worse. Think about the old Blitz gallery wars. Would you want members of this community deciding if your software could be approved?
Your 99 to 1 ratio is ridiculous if anything it's the other way around as far a successfully publishing software on the platform. Not all apps will be get rich stories but there's certainly been a few of those already and it's only been 6 months.
Also, for Xbox or Zune you will need XNA community approval which could be worse. Think about the old Blitz gallery wars. Would you want members of this community deciding if your software could be approved?
Your 99 to 1 ratio is ridiculous if anything it's the other way around as far a successfully publishing software on the platform. Not all apps will be get rich stories but there's certainly been a few of those already and it's only been 6 months.