While it cannot be decompiled into any usable form, it can certainly be decompiled to opcodes
meaning a dedicated hacker could work around any limitations you may place in your code.
If your concern is someone discovering your algorithm for your cool new thing, patent it. It
won't prevent it from being discovered but, will provide you legal grounds to go after anyone
who might "steal" your work.
Frankly, in most cases, neither obfuscation nor patenting your code are worth the time nor
expense in the long run. Your app will never earn enough to pay for the filing/search/legal
fees of full patent protection and the possible bugs you'll introduce unintentionally through
obfuscation will make maintaining your code much more difficult than any potential loss
would warrant. Also, consider Bit-Code. Obfuscation could potentially break Bit-Code
in that changes to Apple's methods of recompiling your submitted apps may result in
useless binaries and as a result, lots of negative reviews of your apps.
Above all, consider the fact that, even "decompiled" the hacker never sees your actual
code, only a representation of that code. The finer points are lost completely. They can
see for example what it does but not how or even why.