It's not quite the App Store, but Ustream's broadcasting app is here on jailbroken iPhones. It joins Qik, which already does the same thing.
Their CEO demoed the app to Techcrunch, which is currently waiting for Apple's approval. No other app, including ones by Apple, has been able to shoot video on the iPhone without being jailbroken, so this would be the first.
Their CEO told TechCrunch that users will be able to "participate" in the live chat of the stream directly on the phone. It's the 16th now, and the inauguration is on the 20th, so if Ustream hopes to make it on time, Apple had better get approvin' soon. [Techcrunch]