Ideally it would be open source and community driven/supported, but even if it's not, I'd trust it enough to use it as a hot wallet.
There's a start-up trying to do the same thing:
http://www.coindesk.com/coc-ios-bitcoin-wallet-apple/The iPhone is a decent product used by millions of people. It deserves a fully functional Bitcoin wallet. Until Apple changes its policy, it looks like this may be the only way.
(I use Android btw.)
I was first under the impression that the phone would have to be jail broke before a Bitcoin app would work. After reading the Coindesk story, that is not the case. I can see Apple pulling the license like the Gameboy emulator that the story references though. And yes, Apple makes a decent product, but their effort to keep the user safe is very restrictive.
SORRY OP FOR TURNING YOUR THREAD INTO IPHONE VS ANDROID