RIM CEO Jim Balsillie told reporter at the Web 2.0 Summit in San Francisco that the iPhone is nothing but an overrated fad and that apps won't be necessary in the future.

"You don't need an app for the Web....We believe you can bring the mobile to the Web, but you don't need to go through some kind of control point," he said.

Balsillie also criticized Apple's app approval process, App Store exclusivity and the lack of flash support. In addition, he predicted that the era of smartphone apps would "pass real quick."

We wouldn't bet on it, though.

More here.