The ASUS product page is here:
http://www.asus.com/product.aspx?P_ID=IrZFXz2AcdRvL7L6
I don't see this as a serious threat to "everything", precisely because it's grey scale.
I'm not counting ASUS out. After all, they largely
created the netbook market, with the original ASUS eee PC.
It's using Linux as the OS, which presumably means the Xandros flavor ASUS created for the eee. So one question will be what third party stuff will appear that will run on it.
I expect a color version of this down the road.
That will be interesting.
______
Dennis