Blender is a 3d rendering package, iirc the editor within it is suited solely for setting up scenes within the 3d environment.
It is definitely much more than this. There are tutorials on how to cut footage using Blender. It is powerful, yet somewhat unintuitive.
The X1000/SAM doesn't even offer that though. Not because of hardware limitations, but because there simply isn't the software.
Well there already is software to do e-mail, web surfing, irc, 3d rendering & movie editing, photo-management, word processing, retouche, painting, spreadsheets, dtp, games and software development. This is more than the original Amiga had in 1985. It might be enough for some people.
Try that on an iPad!