This is a nice idea that could work out on mobile, the control inputs would need to be completely reworked for touch controls but it has a great potential on an ipad.
BTW controls could be refactored for mouse and it would make 1 less action from the user since you would just need to click and hold the mouse button to select and move the point at the same time which in my opinion is a good thing. Again, it would look great on an ipad