Why does Pages for iOS not have the ability to make custom shapes, or make basic shapes fully editable?

If you have feedback for Apple visit apple.com/feedback.

Expanding on what muguy said:

Pages for Mac is a user to user community intended to provide space for discussion of issues with the Macintosh version(s) of Apple's word processing and page layout application, Pages.

For issues solvable by other users of Pages for iOS, or issues with iOS versions of Numbers and Keynote, you'll have a better opportunity for getting a solution in the iWork for iOS

Apple provided the space, but Apple and it's employees participation in the community (and the other user-to-user comunities in AppleSupport Communities) is quite limited. The Hosts/Moderators monitor the communities for adherence to the Terms of Use set out in ToU statement you agreed to on signing into and establishing an account in these communities, and Community Specialists scan the communities for questions that have received no responses within a period of about 24 hours.

Apple Leadership and application development team members are seldom, if ever, seen in these parts.

To send a message to the people doing the development and making the changes that require changes in the software, consider using the Provide Pages Feedback menu item in the Pages menu to send a Feature Request.

Regards,

Barry