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The fact that Apple can and does reject apps makes me very hesitant to invest time in developing on the platform.

If your apps treat customers right, and are minimally competent, Apple won't reject your app.

I did get one rejection for a stupid UI error that would have caused confusion. It took me 30 minutes to fix it, and then no problem.

Why? The bar is pretty low. Have you seen all the crap apps in the store?