Indeed, on the price side of the equation, Microsoft has in fact a much better story to tell since the 32GB version of the Surface RT is now $349 versus $599 for a 32GB iPad.
But the ad leaves out a few details that make for a less favorable comparison.
For one, Apple offers a 16GB iPad for $499 that may be enough for many people's needs (Surface RT starts at 32GB).
The panicked-sounding iPad (using a faux Siri voice in Microsoft's ad) says "Oh snap, you have a real keyboard too?" as the ad shows The Surface RT's keyboard being snapped into place. While it's true Apple doesn't offer keyboard case/cover designed for the iPad, there are ton of such accessories available from other companies. Microsoft also doesn't include the Touch Cover keyboard/cover, it's an additonal cost of about $100.
The Surface RT's built-in stand is highlighted while someone's hand is shown having to prop up the iPad. While it's true the iPad doesn't have a built-in stand, the separate cover can be folded for the same purpose.
Other comparisons are more legitimate as when the Siri voice says "I'm sorry, I don't have a USB port….This is not going to end well for me." The Surface RT of course does have a USB port.