I don't understand why 37Signals would release such an application except for riding the iPad frenzy and testing the water.
Something I would have been impressed with is if they added the possibility to add user interactions in the draft. When I click on this drawn red button, it goes on the next screen, etc...
(Sometimes, 37Signals is a bit too extreme with Simplicity (Draft / TadaList))
That, btw, is the same motivation we've had to release every single piece of software we've ever done.
Also, tadalist is the #1 google result for "todo list". It's an incredibly loved product that has a huge user base. For tons of people that's exactly what they need. Just like Draft was exactly what we needed.
Free markets are pretty efficient, and pricing anamolies have a tough time persisting. DHH and crew are not perpetrating a crime on society with this price. They are not withholding a public good which cannot be obtained from anyone but them. They built something, and want to try and sell it for a price they set to customers they hope to win. Welcome to capitalism.
The point is - and this is especially true with software these days - there's always an option priced above free which causes someone to say "really?" But if you derive value from it, then you will pay. If not, you won't.
There's likely better ways to spend our IQ units than hating on the price of an app.