How does that have anything to do with improving the iPad's existing type functionality?
Plus, my mom (and I assume many, many others) has completely switched over to an iPad and manages all of her emails on it. I'm sure she'd appreciate better editing features. I myself use my iPad to do some light email managing when I'm out, and I too have issues with how tedious editing text is; so an improvement is more than welcomed.
Sure. The ipad may never be the right tool to write a novel or business report.
That doesn't mean we shouldn't improve text editing so it's slightly less painful for email (and other applications that involve small amounts of text editing.)
I write emails and messages using both my iPad and my iPhone and would argue that such activity (which includes editing text) is an intended use case. Anything that increases how easy it is to do this is a huge win for both the users and Apple.
Editing text does not exclusively mean writing code or long documents. I and many others do a large chunk of casual web browsing, email, and messaging from iOS devices. Having better cursor movement to go back and fix a mistyped URL or quickly select a block of text from an email would be a huge improvement over the existing clunky behavior.
That said, I do not think there is anything wrong with using an iOS device for heavier text editing either. It is currently more inefficient than a laptop, but new interfaces may one day make it just as efficient as a traditional keyboard for text entry and manipulation.
Very often all I have is an iPhone and maybe an iPad. I don't do enough hardcore editing to justify carrying around a laptop anymore. So I would definitely welcome better text editing features on iOS even if it's not the best tool for the job. It's funny because I originally thought the text input via touch would be the biggest problem but I'm now crazy fast with it. It's the editing that really slows me down.
I understand you spent a lot of money on the iPad. I don't understand the obsession with editing on it. If you need to edit text, then get a laptop.
Text editing is a round peg people keep trying to jam into an ipad's rectangular hole.
edit: I'm sorry you all spent so much money. You're still using the wrong tool.