Apple couldn't compete with the "clones" a number of years ago. What makes you think they would be able to compete with Dell who is undoubtedly far more masterful at the art of optimizing their cost per unit of product?
AJ: Regarding OpenOffice... I think it would be far easier for Apple to start fresh than to try and get OO working better on the Mac. I run OO on Linux frequently and quite frankly it sucks. It's not the least bit innovative. The UI is cluttered. On top of that it's a big resource hog. If all you care about is checking off features on a list, sure OO might be ok but as far as general usability it has got a long ways to go.
Hardly a product Apple would want to be associated with.
2006: Apple vs. Dell
Apple Preparing for a Microsoft Free Future?