There is an iPad competitor from MS, don't get it wrong its not RT
Windows RT is not an iPad competitor, it is more than that, It is an effort to get hybrids at the lowest price points available so that they can get into as much peoples hands as possible.
Many bloggers and Analyst fail to understand the dynamics of the PC business and how it is composed, the Average price point of PCs last year was around 513 dollars, most PCs are sold well below of the 500 dollar mark, with the current hardware prices, it is impossible to make an x86 hybrid at that price point, Microsoft needed an answer to that and that answer is RT, With RT Microsoft and OEMs can get hybrids (tablet + keyboard) at 500 dollars or below and potentially generate more margin than doing so with Intel processors. It seems like hybrids, are going to be the new low end proposition, one that offers a lot of value btw.
There are features that are desirable from RT even at the high end like battery life, weight, etc... but those are givens, RT is not meant to be high end proposition unlike something like an iPad, although you may argue that it competes with the iPad and beast it at many areas, it does so but not directly and of course it can hamper the iPad marketshare by doing so.
There a lot has been talked about the B&N tablet form MS and it is known to be running RT, this is what I think will end up been the true iPad competitor, and my guess is that it will not even support the desktop mode. This will be a consumption device just like an iPad.
People may argue that an iPad can be used for productivity but it is made for leisure first, the experience is still incomplete when ever someone talks about iPad for productivity they end up with statements like: "Oh, but you can use A or B or C, and there is an App that does that", just like trying to use Windows 7 as a tablet OS, there are missing pieces that you can overcome sure, but the productivity experience will never be as streamlined as desktop class OS until Apple steps it up but at the risk of competing with the Mac and by the recent announcements on the Mac line I doubt that's their intent.
If Windows RT takes off, this will be the last leisure first 10 inches tablet from Apple, they can't afford to let RT succeed.
This is the reason why I dismiss this "Oh, why you added a desktop in RT" comments, the vast mayority of people who buy low end devices are hardly power users and they are the less likely to install thirdparty software, This users have also grown up using the desktop and they will need it to use things like office on education scenarios.
So, if you want a leisure Windows 8 tablet, wait for the B&N one, don't try to make RT what it is not.