Personally, I actually kind of like the idea if they can find a way to make money.
Picture a grandmother who uses an iphone because, lets face it, they are easy to use (not a fanboy, I have thunderbolt, just telling it like it is). But for someone not up on technology, finding the RIGHT app out of thousands would be a bit daunting. Not to mention that Googling information about the best apps might bring you to an article 3 years old.
So - here comes a store that Grandma can walk into and say "What is the best cook book app". And there are people up on their knowledge that can say "well, this one just hit the market last week and it's taking the pie world by storm."
Do I think it's going to survive? Unfortunately not. Do I think it's a good idea to try? Sure!