To switch or add
I've seen some interpret this as petulance or spite -- that this switch is just Jobs picking up his ball and leaving for another playground because he feels IBM has embarrassed him. That interpretation is foolish. I really think Jobs was just being honest, or at least as honest as he could be in a public statement.
Now i think if he would have realy been honest, then whole thing would have been rephrazed from "We're switching to Intel" to "We're now adding Intel to our Processor Portfolio". This would have left all doors wide open and with the universal binary, we'd all have the choice to use whatever processor we'd want.
Seeing that this didn't happen, leaves a sour taste of his Steveness once more being pissed off by someone and being stubborn and walking away in a huff.