I would expect it to... its a pretty tightly walled garden.
All applications MUST be obtained through App Store No other API's allowed (i.e. flash, java)
I could say the same thing for Google/Android on the G1... it just works as well - and it is open source. Of course, you'll probably have every keystroke, snarfed over to Google for analysis along with your emails, and sold off to data mining operations.