It is still pretty general-purpose computer and many people spend fair amount of time working with it, browsing web, reading emails, spreadsheets, ...
I find it hard to believe you bought the iPhone because of Apple's store "policing". This is what they want you to believe.
In reality there are sandboxing mechanisms and permission systems in place and no store "policing" is necessary. That's why android isn't less secure and that's why unless your android is not rooted you can use banking, google wallet and other security-sensitive apps and watch DRM-protected videos there as well.