Underpowered...for what exactly?
Netbooks were barely able to run their friggin OS, that is not the case with the new Macbook.
So if you say underpowered for video editing, you're looking at the wrong machine to begin with.
If you say it's underpowered for what 90% of consumers do (Internet, email, streaming, etc) then you're just full of crap. Underpowered doesn't mean "it's slower than another computer", it means it can't do what it's designed to do. With the crazy fast SSD (PCIe) I don't really see how this thing is going to choke doing what consumers do with their machines.
To say it's a netbook is to fundamentally misunderstand what the netbook was to begin with.
You think 90% of consumers only do Internet, email and streaming Youtube? If that were the case, $200 Chromebooks and $300 bottom end Windows laptops would be huge sellers. Thats not the case though. The vast majority of consumers do a lot more than what you claim on their laptops.