Sure, you should protect your iPad from scrapes and falls. It's an expensive and delicate piece of equipment, after all! But I'm not sure that you really need a custom pillow for the thing.
For one: why? What problem is this solving? You can't put it on your lap like a normal person? And what are you doing with it that requires it to have a full pillow for support?
It also really ruins a perfectly good pillow, making it unsuitable for sitting on or resting your head on. It's also called the ePillow, which I just can't abide. Thanks but no thanks, weirdo iPad pillow.