I could see the argument that reducing the cut is still anti-competitive, especially because it's easy to show how the TOS harms both competition and the consumer.

But if they allow alternative distribution channels, that would make the anti-trust case a lot more difficult both in actual court and in the court of legislative opinion. I have no problem with a 30% cut if alternative app distribution channels are allowed (a la Android).

I think Apple will have good legal grounds to stand on if they get rid of one of those, and will garner a lot of customer goodwill. Right now it really looks like Apple does not respect both their customers and third party developers at all which comes off has pure greed.