I don't think it's so ridiculous. Apple has the managerial and engineering savvy to do almost anything they set their mind to.
Adobe's trying to steer web development into an integrated all-Adobe set of technologies with Apollo and Flex. Microsoft is trying the same thing with Expression and Sparkle/Silverlight. Adobe's implementation will probably ignore a lot of the technologies web designers
want to use (Ruby, Prototype, etc.), and Microsoft's will be half-assed as always. Many web designers still refuse to touch Dreamweaver and wouldn't consider relying on MS.
If the battle is integration, no one does it like Apple; iWeb Pro would integrate with the desktop in particular better than anything Adobe could produce. Adobe has demonstrated again and again how they don't get what makes a really good Mac app.
Plus, the folks at Apple
like Ruby on Rails and clean logical mark-up; just look at the source on their own website. They
like all the nifty, low-overhead animation Javascript libraries like Scriptaculous that are taking off among the web's trend-setting designers.
Want a concrete example? Compare Apple's brand-new
Final Cut Studio page to Adobe's brand-new
Creative Suite 3 page.
Apple's page is lean html and CSS with a very attractive implementation of Prototype and Scriptaculous effects and some custom scripts. It's the nicest software product page I've ever seen, tied with the page for Panic's Coda.
Adobe's page is a clunky, slow-loading Flash website. They're eating their own dog food, but it doesn't taste so great.
In other words, Apple
gets the Web. They get how to build a website. Adobe doesn't; they got lucky buying Macromedia's Flash technology, and they simply want to push it on everyone by shoving in some Flash anywhere it will fit. Their Apollo stands a good chance of being the Java of ten years ago: full of cross-platform promise, but in reality a dud that requires special OS installation and integration.
One other thing to note: Flash is of no particular advantage for Adobe. Apple has their own implementation, both stand-alone (see Keynote export options) and as a Quicktime layer.
As an aside, I wonder what Apple is using to design their new product web pages these days. They might even have some kind of internal tool already, who knows. The Final Cut Studio page was almost certainly not done in Dreamweaver; it's too nice for that.