Not really!  It's actually Desktop Connect, a $12 app that lets you patch into other computers using VNC or RDP, two desktop-sharing protocols.  It's neat to be able to lounge in bed and mess with a computer from afar–the iPad's sweet spot (or sour spot, for the detractors) between cellphone and laptop makes it great for turn-based games.  Hip, urban server administrators will also be delighted. 

Setup is easy, and a row of icons makes keyboard entry, including function keys,

straightforward.  But there are some caveats: the touchscreen magic dissolves to frustration with desktop operating systems, even when you set the remote resolution to be the same as the iPad's.  It's much easier to use the precise mousing mode. 

iTunes link [via Gizmodo's John Hermann, who pulled the trick with a more Macolyte-horrifying choice of OS]