So, if I'm reading you right, you're saying Nokia is to Win7Phone as Motorola is to Android. They're making a big bet that they can build better hardware than anybody else selling products with essentially the same software.

I'd say it's a risky, crazy thing to do, but it seems to be working reasonably well for Motorola. (Factoid: I thought Apple was insane back when they killed the Mac clone market and brought out the candy-colored iMacs, so I tend to doubt my own instincts on these things.)