Apple: Introducing iPhoto for the iPad/iPhoneby Anand Lal Shimpi on March 7, 2012 1:43 PM EST
Apple announced updates to its iWork and iLife suites for the new iPad, supporting the new Retina Display. It also announced the introduction of iPhoto for iOS. Although there's an existing photo management application built into iOS, iPhoto brings multitouch editing to the table. The iOS version of iPhoto supports up to 19MP images for editing. The iPad Retina Display should make for a good canvas to edit/view images on so the fit makes sense.
It's clear that Apple is making a step towards making the iPad more of a productivity device. While I don't know that it's enough for professional photographers, iPhoto makes a lot of sense to bring to the iOS platform. The application is available today for $4.99.