I agree with this completely. It's great that people line up to buy a new product, but it's really only helpful if they can actually hand you money and leave with the product they lined up for. I don't know that Jobs didn't care about this, but it became an evident problem with the launch of the iPad 2. Lot's of people lined up, and most of them left empty handed. It wasn't just because of huge demand, it was because the products weren't in stock and ready to sell.
It's hard to say if that was a supply chain failure, or an overly aggressive launch date target. They caught up relatively quickly, so my guess is it was overly aggressive. Either way, it was a bad experience for customers. I'm glad to see it was remedied with the new iPad launch, and it's safe to assume that was Cook's doing.