This, a million times. Mobile websites and mobile apps have completely different strengths. The current trend is to develop them both with the same HTML-based toolchains and make them as similar as possible, which ends up being to the detriment of both.
Users don't want mobile apps that are simply a website packaged up behind the "icon on the homescreen". Those apps lack the essential benefits of native: fast and seamless access, smart use of local data, integration with device services like notifications...
There's nothing more annoying to a mobile user than an "app" that takes 10 seconds to start up because it first loads a browser engine, then makes a hundred HTTP requests to fill up that embedded browser with content. (And if the 3G network happens to be clogged, the app may end up showing nothing after 20 seconds.)
For developers, Cordova/PhoneGap-style tools are not a panacea either. It's easy to get an 80% solution done, but then you run into problems with mobile browser performance, browser differences between devices (even Android devices with the same base OS can have very different web view browser engines), etc. With all that, the last 20% of a Cordova app may well take 80% of development time, and that's rarely been budgeted in.
Shameless plug: my startup Neonto makes a UI design tool that creates usable iOS and Android code from visual layouts. It's a great way to remove the friction in creating real native apps: http://neonto.com