Good for Meg. HP doesn't know what to do with webOS. Open-sourcing it makes it available to those who do.
This could, of course, lead to a scenario like that of Android in the pad space. Google had little success there, at least in comparison to iPad, until Amazon took the Android ball and ran with it. The result was the Kindle Fire. Great for Amazon. Terrible for Google.
There is no longer any need for Android developers to write apps for anything other than for Amazon's proprietary fork of Android 2.3. They'll just go with the leading Android device in the pad space. Amazon will make it easy for them by ignoring Honeycomb, Ice Cream Sandwich, and subsequent releases. ("Fruitcake" maybe? In honor of Eric Schmidt's creepy nuttiness?)
Meg should wait and see who makes webOS devices over the next year or so. Then HP could revive their TouchPad project if and when there's any interest out there. And if they think they can actually compete in the pad space.