The Android Market, after a slower start than Apple's App Store, has been on a meteoric rise the past eight months. Just this past weekend, it passed 400,000 apps, putting it 100,000 apps behind the App Store, but taking the lead for the most free apps available.
While having the most free apps is not exactly an indicator of financial success, it does cement the Market as the place for free mobile apps on the internet.
While an argument can be made by Apple followers that quantity does not equate to quality, a similar argument can be made that quantity gives rise to innovation. You blend in with the walls if you don't step out. It's an interesting milestone to pass.
The Android Market still has a long way to go to be a financial competitor with the App Store, currently earning just 16% of what Apple does from the top 200 paid apps, but due to the huge array of Android devices, that just might not be a valid comparison.
On a side note, hopefully the carriers will start understanding that with significantly more large applications using more and more data, they'll have to put up or shut up when it comes to network performance.[Distimo]