It looks cool but... magnetic? I don't think that aluminum is good for that, oh no and God knows what kind of effect a strong magnet would have on the device, Ufff!
I think that you would need something else to accomplish such a thing, some sort of case that you use to protect the IPad that had something to attach such a stand in the back, that's what I think. Besides, a protective case is much more needed for the IPad than for the IPhone from the stress testings I've seen on the IPad, almost mandatory.
Any manufacturer interested in building such a contraption? Belkin, Griffin perhaps? ja, ja, ja