Hell no. The iPad is a nice PDF reading machine with its retina display and the pencil is a joy to use but the device is barely usable for any text entry and don't support any real programming workflow.
However some shortcomings can also be positive, in particular I find the limited multi-tasking really helpful to concentrate on the reading of a paper, which is way way harder on a desktop computer with three screens, dozens of tabs opened and multiple running applications.