I really really hope I'm wrong (because I really believe in Ubuntu's vision), but what I'm gathering from this is that Canonical really has no idea how to make money.
I'm gathering that the handset makers and carriers and VCs laughed them out of the office, so they had to go this route. I would have expected to read something like, the phone is an enhanced version of x/y/z with these features, we got a great deal from (manufacturer), but we need 50,000 pre-orders to proceed.
It's a premier, demonstration platform, not a mass market device.