If you take an Office 365 subscription for granted—which, after all, was required in PowerPoint version 1.0—version 1.3 is a phenomenal improvement. If, on the other hand, you approach it as a free tool, you get a perfectly nice, if limited, iOS app that can view, create, edit, and present native PowerPoint documents. That's nothing to sneeze at, considering how difficult it was to do any of that just nine months ago—and free is free, after all. But anyone wanting to do serious editing or use Presenter View will want to spring for a subscription..
10,734 App Store customers have shared a review for Microsoft PowerPoint (for iPad). Ratings are generally positive averaging 4 out of 5 stars all time. The most current version of the app has 2 ratings with an average 2.5 out of 5 stars.