I'm not sure there was massive demand for multiple video editing apps on the iPad, given its terrible camera and relatively limited amount of storage space. But hey, AVID apparently thought there was a need waiting to be filled, so they up and made Avid Studio for iPad.
While not fully intended to be a replacement for AVID Studio on desktop PCs, All Things D says that it is classified as a prosumer app and that the company wants it to complement its desktop counterpart. And while it will supposedly do most things desktop editing suites can do, it won't be able to execute on everything.
For starters, pro-level editors accustomed to using a large screen for edits will likely feel a tablet doesn't provide enough screen real estate for real edits.
Also, with Avid Studio on a PC, video editors can export a Flash video file, and burn video files to a CD or DVD. On the iPad, neither of those functions is an option.
Users also likely won't want to export lots of large, high-definition video files to the iPad and take up storage space on the tablet.
Granted, touch-based editing does seem fairly intuitive, and at $5, the app is pretty damn cheap, but the whole thing seems unnecessary. I would rather have the app serve as a control board for the desktop version of AVID, working over a wireless connection. If you are thinking about snatching this up, be aware that the price will jump to $8 next month. [iTunes via All Things D via Cnet]