That's what I thought as well before I made the switch to Opera, which is every bit as fast and smooth as Safari.
I am currently using Opera as my primary browser on my Eee Pad. It is nice, but I find that it has some limitations that Safari does not have. For instance, I cannot enter in any comments on web sites that uses Disqus. An example is Technobuffalo.com. Try entering comments on this site with Opera. You cannot. On Safari on the iPad, I can do so. There are also other web sites that Opera simply does not let me enter forum messages. That is the most disappointing thing I find about Opera. It is good, but it is not fully functional for my personal needs. When I tried these sites on my iPad, I did not have any issues.
I get around the limitations of Opera by using other browsers such as the stock Android browser and Dolphin. It is annoying as I cannot keep all of my bookmarks in Opera. If I want to go to these other web sites, I need to switch browsers and have to keep separate bookmarks in these other browsers. It works, but compared to the iPad, it takes a little more management.
And Flash is a very nice feature to have, especially on tablets, where you can do a lot more video viewing because of the larger screen. Good luck getting videos to work on an iPad.
Of the various web sites that I frequent, I have tried a number of them on the iPad. There is only one instance I have found where I cannot view the content on the iPad. Mind you, I do not think I am a heavy Flash user. At least for my needs, the web sites I tried that do show videos can be played on the iPad.
If you compare web browsing experience, my Eee Pad with multiple browsers give me a more complete web browsing experience than the iPad with Safari only. If I had to choose a single browser, the Android stock browser gives me the best complete experience. Opera Mobile gives me the best overall experience as it is smoother and a bit faster than the stock Android browser. I haven't tried any alternate browser on the iPad.
I've only tried the iPad in the store, so I haven't put the iPad through as rigorous a test as I have the Eee Pad which I have owned for 4 months now. At least when I was trying out both tablets back in the summer, I felt that the iPad was smoother and had a better UI. The Eee Pad with the stock browser was not a major step down and appeared to provide a more complete browsing experience. I knew about Opera as I use it on my phone. I felt that with the Eee Pad, I could use Opera and fall back on the stock browser for those web sites that Opera just cannot handle.