There's "good enough" and "excellent" - these are not the same thing. It seems like the webapp apologists are in the "good enough" camp, and they're certainly right: Apple's webapp facilities are good enough.
But they're not great, and great UI is the defining feature of the iPhone. If you lose it all you have is a piece of plastic that has fewer features than the competition. IMHO also, the constant settling for "good enough" UI is a hallmark of programmer-driven UI, which rarely results in usable apps by regular people.