No.. It's a music app right now.
But there's another veery capable DAW app which usually costs about $50 , and doesn't do MIDI at all , which can sync to a video . It's an extra $5 purchase but , very nice as long as you scale your expectations to the capabilities of the iPad!
Cubase 7, Nuendo 6, Cubasis ( gotta luv it ), MR 816 cs, OS 10.8