Uh, do we actually know that those are the specs, yet?
I will say, though, that I don't think a 400MHz machine is as underpowered as most people think. I've just started getting a 500MHz PowerBook G3 whipped into shape, and even running OSX on 512MB RAM, it can handle just about anything short of Flash/HD video. If this turns out to be a G4 derivative (especially at 800MHz,) it should actually be pretty capable.