Well, regarding the question of why you pay $50, ask yourself if it’s realistic to expect all this for $5? All this from people that are seemingly happy to pay bloated Apple prices for proprietary hardware and a closed software market-place.
Key features from the Steinberg web-site -
Unlimited audio and MIDI tracks (depending on the device used)
Over 70 virtual instrument sounds based on HALion Sonic
Mixer with over 10 effect processors (insert and send effects)
Over 300 MIDI and audio loops
Virtual keyboard and virtual drum pads
Sample Editor and Key Editor
Export to Cubase, Dropbox, SoundCloud, AudioCopy & email
Core Audio and Core MIDI compatible hardware supported
Sequence other Core MIDI apps (MIDI recording only) and run Cubasis simultaneously via background audio
Import audio from your iTunes music library or using iTunes filesharing, use AudioPaste or set up a Wi-Fi server in Cubasis
When Cubase first came out it costs many hundreds of pounds, and did none of these things.
If you can remember what a 4-track PortaStudio was, try and remember what they used to cost. Then ask yourself if those machines had any these features - and whether it sounded any good.
Also try and imagine how many hours of development time went into producing, testing and marketing this code, and see if you can estimate how many you’d need to sell at $5 a throw to actually make a living from it.
I seriously worry about the iPod generation and their understanding of the value of things. Just because Apple attaches almost no value to their music production tools, doesn’t mean that all other competing products are worthless too.
Frankly, I’d be happy for Steinberg to focus on supporting the ‘serious’ products, and let the $5 app community waste Apple’s time.