So creating spreadsheets, presentations, drawings, PDFs, etc. works just as well on an iPad as it does on a tm2? You're not presenting any kind of logic, you're just saying "nah" which is not exactly informative.
The question is why use a tm2 for those applications? Low cost HP laptops are garbage and their convertibles are no better.
Get a real laptop (Lenovo, Apple, business class Dell/HP) if you're doing that sort of content creation, that's my solution.
On a side note, on a flight this weekend I met someone who was making a presentation with an iPad and a video adapter. He didn't even bother packing his laptop and he was thrilled. Lots of cinematographers (my professional field) are now doing quick image editing and making fast color correction notes via email with it. And there are loads of artists that create illustrations on the iPad.
Productivity isn't the primary goal, nor is it optimal for a 10" touch screen, but it sure as hell happens when you have a practical application that benefits from a very portable machine with a great screen and has display capabilities.
Practicality for applications are a product of form factor more than anything else. Anything else is a bulletpoint that may be cool in an "oh it can do that" sense but from a practical POV it is kind of pointless for most people.
I myself use it for web/IM/email and video, basically a lot of the same stuff I do on my normal machines. Clearly that is plenty for so many people, which is why it has sold so well.
And can a tm2 do this?
http://www.youtube.com/watch?v=NgCkXUecS14
http://www.youtube.com/watch?v=LMHxMSa4HVw