In six days ends the Ubuntu Edge "fundraising" but I don't think this is the way to go. If few people like Linus Torvalds ignited a revolution why the same is not happening on the mobile space with less than $ 32mm? Even starting without big expectations about the market penetration because probably in a few years we will buy generic mobile phones in the same way that we buy PCs today.
I think the priority is to have a good native UI there. We already have a lot of OSes to choose from.