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I'm gonna go out on a limb here and say that Apple would probably punch two competitors out of the game if they were ever to venture into the market.

They've already managed to steal a HUGE chunk out of the handheld gaming audience and even now I find myself getting my gaming fix from mobile games because I am so busy nowadays. I am pretty sure that many others do the same thing for their gaming needs too. A lot of people just don't have the patience to sit though a whole game nowadays and would rather get a quick fix from their F2P game app. There's a reason why many developers aren't focusing on campaigns nowadays because multiplayer gaming is so quick and instant. The same thing is happening to music too. Many of the most popular artists right now don't focus on making conceptual albums anymore. They just use an album as an excuse to release a few quick catchy singles and bloat the album up with filler. It's less of a sin nowadays in the iTunes age where people can just buy the singles from an album but don't put in the time to listen to the whole body of work.

Anyway getting back onto track, Apple has enough loyalists to launch it successfully and would probably have all the major third party developers backing it too. This is all possible provided that the price was right though.