Well at least they understood where the payment world is going, it's an attempt, even if a bad one. Maybe it's too soon to say if their system will work out to be at least decent, but I'm fairly confident it will smoothen the transaction for the general public towards Bitcoin.
I wouldn't say that apple pay is necessarily a bad attempt. I would say that it would have all the same costs associated with making credit card payments, however it does not have any disadvantage that using a credit card does not already have.
I would say it is a long term good thing for bitcoin because it will get people to be comfortable spending money with their phone which will get people comfortable using bitcoin with their phone.
I think it will have additional costs compared to credit cards. Apple will demand its cut too. Finally all these costs will be passed on to consumers.
There is an argument that apple pay will actually have lower costs as it will hopefully have a lower fraud rate and a smaller number of instances of credit card numbers getting stolen from merchants in similar ways that credit card numbers were stolen from merchants like Target and Home Depot
