This much is true. I was able to bang out a draft of an article using the WordPress app, but even that has some limitations. I may pick up the $10 version of Pages, though, and I hear there will be apps for media editing (wouldn't surprise me, anyway). I don't have much interest in recording video or taking pictures with the iPad (that's what the iPhone is for, and I've always got that handy) but it'd be nice if there was some more flexibility in the OS for managing files.
That said, I'm not convinced that any upcoming tablets will do a better job until I see it for myself.