The netbook can load Firefox in just a few seconds. And Hacker News loads almost instantly as on a modern machine. (Hit enter and the page is rendered before you can blink.)
The same machine can also play back 720p H.264 video smoothly.
And yet, if I go to Youtube or just about any other modern site, it takes literally a minute to load and render, none of the UI elements are responsive, and the site is unusable for playing videos. Why? I'm not asking for anything the hardware isn't capable of doing.
If my own work isn't snappy on the Atom I consider it a bug. There are a lot of people using smartphones and tablets with processors in the same class.