Yes, the iPad 2 is not competing with the T-Bolt. However, VZW loses if they have to split their marketing two ways for the week. Chances are we'll be waiting until Wed/Thu next week earliest for a T-Bolt release after VZW spends all this week and weekend and early next week talking about the iPad 2.
Besides, the T-Bolt is not just A smart phone. It is THE FIRST VZW 4G phone specifically. They will want to market it heavily just the same as they did for the DROID, iPhone, XOOM. I wouldn't be surprised if the device was delayed until the 24th just to allow them to crank out enough hype after the release of the iPad 2.