There's already a barcode scanning program in the App store that does this. It uses the iPhone camera to scan the barcode and then you're given information on the product and prices from lowest to highest in you're local area. And it's free.
And this is hardly revolutionary. The CueCat back in 1999 had a lot of this functionality.
Apple needs to do more to protect its customers from crap like this. When there are apps like this, then consumers should be able to report it. Put a "Report this App" button somewhere on the page. I am SICK of buying crap apps with no way to get my money back or at least have the App removed from the store.