I agree, but for slightly different reasons. I don't particularly care that Apple removed app syncing from iTunes, it wasn't a huge deal for me, but the removal of the App Store now means that I cannot browse apps from my Mac.
I can't click on an affiliate link on my Mac and buy an app when I'm reading a review on the web, which is cutting an already limited revenue stream for many Apple blogs, this one included. Forcing people to browse iOS apps from an iOS device — I honestly can't think of a reason why Apple would want to.
I use the iOS version of the App Store so infrequently I'm not even sure if you can see the same information that used to be in the iTunes Store from your iPhone/iPad, but one thing that will go away is browsing iPhone/iPad-specific apps. The iPad App Store gets both, but on iPhone, it'll only show you iPhone apps, AFAIK.
This was not the move I was expecting when people were clamouring for iTunes to be less bloated. Here's hoping the iOS App Store comes back to the Mac someday.