This looks a lot like LimePC, with a dfferent brand slapped on. You can search the forums at morphzone.org, powerdeveloper.org, amigaworld.net and bbrv.blogspot.com for "limepc", "cherrypal", "5121e" and "thtf" for *loads* of info about this (and why no *miga OS will ever run on it).

But at least they dropped this "tricore" marketing drama.
Anyway, I think two years ago an ultra cheap 5121 based netbook would have had a slight chance, but for today it is rather too little.
If you want to go the ultra cheap cheap way and use ppc, better use Applied Micro 801xx or some low end Freescale QorIQ. Those chips are pretty low energy and very cheap. The 400MHz e300 core of the 512x are bit weak for a netbook.