I do not agree with your reasoning.
First of all, if going native, you'll have to put in twice the effort for targeting both Android and iOS, while an HTML5 app can be easily ported to WinPhone or even Symbian.
Will it be shittier than a native app if doing a straight port with no effort to make it seem native? Most definitely YES, but at least you've got an app to give to your customers that want to use your product. Because no matter how cool the new Facebook app is on iOS, I'm still and will continue to be an Android user.
Also, I do not agree that it's easier to develop that native app in the first place. I can easily do things in HTML5 in terms of UI that I wouldn't know were to begin with native widgets. All is fine and dandy when you're using the standard widgets, but if you want to have non-standard behavior, or to put your personal touch on the design, then all hell breaks loose, because those native widgets ARE NOT as fluid, as easy to change or as composable as a bunch of divs with CSS attached. People underestimating this point have never worked on designing interfaces in both HTML5 and native widgets.
And for the record, I hate the native app because it's slower than when using the website in my browser. But the work they did also improved the mobile website, which I find to be awesome.
The current Facebook app, if developed by
competent guys, is a 3 months project by 2 people
Yeah and I'm sure that in their spare time those same 2 people could also build Twitter.