Are there more "serious", feature-filled DAWs out there? Yeah, definitely. Are there any with the simplicity, portability and immediacy of Korg's Gadget? Not really.
It's the limitations here that make it what it is. A dozen or so instruments, a simple interface, that's all you get. Make some music. I think trying to integrate it into Ableton kind of misses the point.
It's a lot like the Monotribe, actually. Too amazing and powerful to be a mere toy, far more limited than most commercial products, but just plain super fun no matter what.