Interjection!
I don’t know of an ipod with a crossfader, EQs & FX per channel, and above all, a steady MIDI clock. Closest competitor in this league is the Roland SP 404 SX, but it it’s still a mile behind the OT in this context.
So, even if you use it as an extended ipod, you will still know why you paid 1200eur as soon as you try to mix your tracks in realtime or combine your stems / backing tracks in a live situation, or have external gear synced to your ipod… pardon… your Octatrack.
In short, OT beats ipod, traktor and sp404 in terms of performance flexibility, but it loses against ableton.
On the other hand It beats ableton easily in terms of MIDI sync stability.
(try playing for 7 hours with ableton or any DAW as MIDI master)