I agree to a point, but I don't think this is much different than developing accessories for someone else's product(s) that need to be approved by the owner of the target product. (Example: Official iPod accessories.) Those companies seem to get on just fine risking some money in R&D while trying to get official approval for an item. You can bet they don't just develop in a vacuum, either, but that's what a lot of the very loudly complaining app store devs seem to be doing.
It doesn't have to be such a huge gamble developing for the iPhone. There are Apple representatives that developers can talk to, meet in person at events like WWDC, and even send development builds to. They give feedback and can warn of potential issues with approval, etc. These resources are there, but somewhat scarce. Apple obviously cannot guarantee everyone who pays their $99 access to significant face time with an insider without the dev putting in some effort. As a developer who's aiming to be serious about this, you have to be proactive in elbowing your way into the system - but once you're in, the "risk" is greatly reduced. The big iPhone and OSX studios all know this and work behind the scenes within the system to the benefit of both parties (usually).
It doesn't have to be such a huge gamble developing for the iPhone. There are Apple representatives that developers can talk to, meet in person at events like WWDC, and even send development builds to. They give feedback and can warn of potential issues with approval, etc. These resources are there, but somewhat scarce. Apple obviously cannot guarantee everyone who pays their $99 access to significant face time with an insider without the dev putting in some effort. As a developer who's aiming to be serious about this, you have to be proactive in elbowing your way into the system - but once you're in, the "risk" is greatly reduced. The big iPhone and OSX studios all know this and work behind the scenes within the system to the benefit of both parties (usually).