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Ice Cream Sandwich is due out soon. Hopefully it will be released to the community from the start. Until then, most of the work they do might be at the linux kernel level and easily transfer over.
There could be a lot of waiting, and you never know how far a project like that will get in terms of features and stability before it is abandoned, but one slickdeals thread I saw on the topic had 8000 comments before it even made it to the frontpage. I suppose a number of them could be looking for a nice internet appliance (and webos should excel there), but it will also make for a nice userbase for the right hacker group.
$100 for this hardware isn't the sort of option that would come up often.
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