...and locked-down so that you cannot run the software you want, and the ability for Sony to remove features whenever they want (and you cannot disable that).
That security is going to be disabled so fast it'll make Sony's head spin. x86 is a well known processor with a ton of corner cases, legacy code, and know attacks that should make this a lot easier than the Cell, where no one really knew how to attack an IBM LPAR.
All three previous generation consoles were almost perfect in terms of the security of their design, the problems were due to bugs in the software implementations. As such the actual architecture of the processors didn't matter too much.
It's a refreshing combination of hardware and software I'm keen to try out. It merges features of say Steam combined with a dedicated gaming machine. Some people don't want to screw around with buying individual hardware, and at the end of the day just want to switch on a machine and pick up where they left.