Without stretching: they released a laptop that was simply not fast enough to be called pro just to make it more affordable and attract more buyers. It could have been priced 200$ higher but actually serve at least semi-professional purposes. The 2010 models are what the 2009 models should have been from the beginning.
Maybe it's not that much of a problem in the States, but just for your information, here where I live - in Poland - the average salary is 850$ and the laptops are priced *wayyyyyyy* higher. I'm a student, so I was saving for it for three years and I got extremely pissed off when I realized my MacBook is pretty much useless when it comes to music editing.
Call me elitist, I don't care, but when I buy a 'pro' laptop, I don't expect it to be some made up fairytale name, no, I'm expecting a laptop which is fast enough to do semi-professional work on.
You're completely missing the point of my argument. I'm not saying you can't complain about MBPs not being fast enough, spec'd out enough, powerful enough, etc. You might think there is a baseline that all MBPs should hit in terms of price and performance. The lower end Pro, you might argue, muddies the line. That is all fine - and has been argued before.
Where your argument becomes snobbery is when you frame it within "too many regular joes can now buy MacBook Pros" - who cares how many people can afford them? Your issue is with the specs/pricing and what that means for the "Pro" name. That said, what should it matter to you if there is an entry level Pro? It's nomenclature. If you need such a high end laptop, you definitely should not be going for the base, entry-level version - aka the model the unwashed masses buy because it's less expensive.
This cheaper model didn't just magically get more powerful at a huge discount - they cut specs to make it available to a larger audience. It's that simple. MBPs used to start at $2k - so really that's about the price you would have been paying, and if you paid that now, I don't think you can argue that you'd have what you need.
The accessibility of the entry level model of the Pro is just a smart business move by Apple.