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True. But it's also very true that the videogames industry, the biggest entertainment entity nowadays (over music and cinema), is currently completely driven by PowerPC processors.

It's so bitter it drives you mad. This world is crazy.

But, even if "we" were able to build a new PowerPC based computer (rip off freescale's MPC8610 develpment board, for example), next you would have to tackle the task of developing the drivers for it. Given the extremely limited amount of programmers able to do it, and the fact that chipset manufacturers tend to ignore small players, it would take very, very long, if ever made. Not to mention the opssibility that the very CPU you are basing your design on would surely get to end-of-life status.
It would take so long that, when this new Pegasos+MorphOS 3 gets finished, the whole world of computers would be a full generation ahead.
Kind of the sittuation when amigans kept struggling against gigahertz x86 PCs, with insanely hacked 68k computers from a decade ago.

Hey, wait! Didn't we just love that?!