I completely agree with Cook and am glad he had the guts to say that netbooks are junky hardware unworthy of the Mac brand name. I've been saying all along Apple will not make a netbook. What's much more likely is a bigger iPod like device in a tablet form factor and no keyboard. It'll be expensive too. His statements pretty much corroborate that.
Leave the low priced garbage for the other companies. Apple does expensive products with an emphasis on design and does it well.
I'm glad I'm not the only one who thinks netbooks are a complete waste of time and money. It's a fad that needs to die a death.