If that were the case, no, nothing wrong... But apple is making a huge markup on their $1200 phones. They aren't making up a loss with their app store. They're just piling on the cash.
Would it be wrong of apple to make the app store fee 5% and then increase the phone price whatever percent is necessary to make up that loss? Would that be considered piling on the cash?
At least then, buyers get a more realistic view of total cost of ownership up front, rather than hiding the rest of the profits in the pricing of other people's apps.