true -- but this time he seems to have gone too far to turn back. then again, remember when PowerPC was better than Intel? Jobs is a master of the Big Lie.
What was he supposed to say? Get up on stage and tell everyone PowerPC chips were crap? During the PPC days, there were many times where PPC had a significant lead on Intel, especially early on, but towards the end, most notably the G5 days, Intel's lead just widened so far and PPC's got so expensive, that it made the best business sense to switch.
The Power architecture is still pretty awesome for raw power. But it's not designed for low energy consumption (ie: laptops). So while a desktop with some P6/P7 chips* would be an awesome beast - a laptop might be a toaster.
The G5 was a Power4 chip of some sort from memory.
Jobs read the market well. The move is definately to Laptops / portable devices - and Intels chips were much better at that.