>> 2. It doesn't catch actual bugs, and then you have to wait to fix them.
Apple aren't your QA team.
Apple aren't your QA team.
It is certainly true that some QA is better than no QA. Even professional QA's miss some stuff.
While they do try to ascertain that your app does what you claim it does, they are not there to test your logic.
Also, I think if this app-review process is not beneficial to users, I dont think they would have started this in the first place. Sure, it is an issue to thousands of developers, but it is beneficial to millions of users.
Business related motives could be a big reason as well. But, who is not?