iPhone 5 Lightning Connector - Is it a let down?

With iPhone 5 yesterday a new lightning connector was launched. But, if you have some devices with a 30-pin connector already, you will definitely think that this new connector is a big let down. Apple has launched some new adapters to go with it too, but then they come at a price - The regular old Lightning to 30-pin adapter comes for $29, whereas if you want a Lightning to 30-pin adapter with a 0.2 meter (about 8 inches) cable, you’ll have to shell out $39. Apple also has a Lightning-USB cable to connect your shiny new iDevice to your Mac or PC available for $19.

While most other smartphone makers rely on standard connector technologies such as micro USB cables that carry no licensing fee, Apple has always developed its own proprietary cables and charged fees to let companies use "Made for iPhone" branding on their accessories.

Mike McCord, the owner of a RadioShack Corp. franchise in Logansport, Ind., said Apple might be throwing a bone to his beaten-down industry by changing the dock connector, which could drive new sales of speaker systems and car chargers as well as Apple's dock accessory itself.
"Is it good for the consumer? I don't think so," Mr. McCord said. "But for dealers of electronics, it will be a good thing." {Check what others have to say about it in an article on WSJ}

What do you guys think about this?

We'll now have one more accessory to buy from Apple. It always works in apple's flavour. The only thing I like about the new lightening connector is that it's reversible and compact. I don't see any other advantages though. I'd have liked had Apple adopted a micro-USB charger/connector approach for the new iPhone 5. But they're Apple and they set the rules, no one can do anything about it.

I bought a $1.5 micro-USB cable for my S3 to charge with.. also using it to test the latest Arduino Leonardo microcontroller.

Down with proprietary cables!