Perhaps all is old is new again, but I can’t imagine this model leading to significant growth in today’s market. PCs are vastly more commoditized than they were then; my local supermarket sells low-end Windows and Chromebook machines for very little, and refurbished/recycled business machines with Skylakes can be had for $150 on eBay. If people want inexpensive computing platforms there are many more options and this doesn’t even include ultra cheap tablets or prepaid Android devices.
Here’s a paper from 2004 that explains it: https://escholarship.org/content/qt2t03k647/qt2t03k647_noSpl...