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From a development standpoint, developing an iPhone and an iPad app really are separate beasts, which the developers are basically just sucking up in the interest of pleasing people in many cases with universal apps. Most AAA apps don't, however, productivity, gaming or otherwise, when it comes to the App Store. Not to mention the Windows app, which is just something else entirely. For an application suite as fully featured as MLO, it is worth it, however, and the suite is comparatively on the lower end for the market.
If you only need a short list of things to do, you're better off with text. But if you actually have the need for something like MLO, it's a simple ROI consideration. So though I too would have marginally liked paying a little less for a universal app, I'm not particularly put off by it, considering the apps that I got.