Even more funny, those coloured stripes on the sides look similar to the colours in the old Apple logo. It's either a really good April Fool prank or a disguised marketing test to see if people would want such a thing. I'd change a few details such as the "bumps" used to hold the iPad, the angle of the iPad itself. But the idea is push far enough that they thought about using the top of the screen for the marquee, and it's a really nice touch.
Not sure they'd be able to license those first three games, however. Not to mention they would need approval for controlling games via an external device. If ThinkGeek are smart they'd partner with iControlPad to share the same gamepad/joystick hardware.