Photoshop for iPad was re-designed from the ground up. It is now a touch based app where it was mouse and keyboard based before. On the left side of the screen are the tools, although this initial release is missing some features like the Pen Tool which draws vector-based shapes.
This product is not intended to be a complete version of Photoshop for the desktop. The Photoshop CC app for iPad allows users to open and edit PSD files giving it cross platform functionality. Adobe will in teh near future add some more features like rotate canvas, custom brushes and fonts, smart objects, grids and guides.
But like the current Photoshop, Photoshop for iPad is a subscription based software. It will not be available for outright purchase. Here’s the Adobe link which includes a free trial of Photoshop for iPad.
A better value is probably Affinity Photo from Serif Labs. $9.99 This app is only available on the App Store for iOS devices.