The iPad has nowhere near enough processing power to actually run the Traktor software, nor do I personally believe that it has enough horsepower to run any sort of porting or adaptation of the core functions.
I don't know if this is the case... the processor is capable of playing back HD-videos, which my old ThinkPad (which has no trouble running Traktor) is not able to do. In fact, based on purely technical data, iPad's CPU is quite interesting piece of technology.
I do concur that porting the software to such niche of a market would be pretty pointless, though. But I wouldn't dismiss the theoretical possibility of it being able to work.