Yep, and the chips we've seen from Apple thus far have been optimized for use in a 1/4" thick sealed box with very tight restrictions on the thermal and power budget. I think there is plenty of room for them to make chips optimized for use in a fanless (or nearly so) tiny laptop (Air or "MacBook nothing" form), as well as more powerful chips for a MacBook Pro class machine (with substantial fans and bigger batteries allowing for more elaborate chip designs, more cores, and higher clock speeds), and desktop systems that are much more "sky is the limit" as far as power and thermal budget.
Apple, with Motorola, and then IBM, and then Intel, has always been a passenger on the bus - they can get on and off, and they can make suggestions to the driver, but they don't really have much control over where it's going. With a switch to their own ARM-based chips, suddenly Apple is driving - they can decide where to go, and how fast, and when to change direction, and when to add more resources to get what they want when they want it (rather than asking Intel, "pretty please?").