Sorry to disappoint you, but no, in this case it doesn't.
"Misleading" would be a more appropriate description, since the real world applications behave quite differently. And I prefer "real world" over "passmark" any time.
Start there:
http://en.wikipedia.org/wiki/Benchmark_(computing)#Challenges
Yet in the real world the single core Atom runs OSX just fine.
Using a dual core, it should get be better for people with light to mid level computing tasks, especially when Snow Leopard comes out.