The Notes client will have VPN quality encryption secured with a Notes ID. For the web Domino has never been really RAD besides some very simple tasks. Codestore became famous for all the web hackery.
In addition you compare GUI style development with text coding using a ready to run CRUD module.
And maybe the most valid point. The development model you use has been on hold since 2002 (that is 9 years). Lotus Notes 6 was the last release that significantly improved the old development model. Notes 7 was a no feature release and Notes 8 brought a new (or old if you consider it Workplace recycling) way of developing applications (XPages).
Now compare everything in IT that is 9 years old with something from 2011 and don't be surprised who wins.
Would it work with XPages in 5 minutes? I don't know. Maybe you would need a CRUD template too (and it would definitely possible with XPages). Unfortunately the new way of Notes client applications (you run a slow local instance of a web server on the client) imho is a very dumb approach.