It definitely does, although there are some challenges that are not present with web products.
- approval times for iPhone
- users have to agree to upgrade to the new version
- versioning between server-side and client-side features
That said, do not forget that the issues described above affect the speed of iteration in what is not necessarily the first stage of a lean startup. They do not affect your ability to talk to your potential customers and conduct problem interviews or solution interviews. They do not affect your ability to research the market, examine the volumes of google searches or conduct smoke tests using ad words and/or simple landing pages. They do not prevent you from conducting a concierge MVP, where you offer a manual service to a small number of people to prove your value hypothesis.
Lean is a mindset - "how can i test my assumptions with the least amount of effort possible." Sometimes the answer involves writing apps or adding features to your existing apps. A lot of the times it does not.
For the cases where your MVP is best conducted by developing an actual app, there are things you can do to work around the issues presented by the mobile platforms.
Others already mentioned distributing your app to a small number of testers without going through the app store. For Android, this is a non-issue - you can email your app to as many people as you wish without submitting to the Market (I'll never get used to saying Play).
A/B testing is not easy on mobile, but it is possible. Switching features out in response to data sent to server is another way to experiment without versioning your app.
And finally, the mother of all approaches: using hybrid HTML5 and native apps which offer you the best of both worlds: the ability to be in the app stores and leverage native functionality when needed, as well as the ability to introduce new functionality, A/B test or switch your features on the fly, by just changing your server-side code.