Steve Jobs justified the in-app content requirement as somewhat of a fair finder's fee: "Our philosophy is simple -- when Apple brings a new subscriber to the app, Apple earns a 30 percent share; when the publisher brings an existing or new subscriber to the app, the publisher keeps 100 percent and Apple earns nothing. All we require is that, if a publisher is making a subscription offer outside of the app, the same (or better) offer be made inside the app, so that customers can easily subscribe with one-click right in the app. We believe that this innovative subscription service will provide publishers with a brand new opportunity to expand digital access to their content onto the iPad, iPod touch and iPhone, delighting both new and existing subscribers.
This will be painted as a black and white issue by most of the pundits. Most will say it's Apple being greedy, and you'll find the word "evil" in a lot of those stories (which is laughable). And a few will defend Apple's position, with the standard, it's what's best for the users.
In reality, it's both, and it's the end of the free ride for publishers. Up until now, publishers could release a free app (Apple makes nothing, despite supplying the tools and the customers) and then sell their content outside of the app. I was never interested in the Kindle or buying e-books from Amazon, but now I buy Kindle books for my iPhone. Apple's retina display and app model are the reasons I buy from Amazon, so is it unfair for them to ask for a cut?
Pandora is another great example. Pandora was a popular service before the iPhone, and Apple shouldn't get a cut of their existing subscriptions. But if someone downloads the app from iTunes, and then decides to subscribe from within the app, it's perfectly reasonable for Apple to ask for their share.
This won't be an issue long, because the publishers are going to find out quickly, that they will sell more product this way, and the increased sales will more than make up for Apple's cut.