What's to keep Dell from heavily customizing and releasing / packaging a version of Ubuntu in the same vein that apple customized, released, packaged nextstep as OS X? The only thing I can think of would be "talent at the company". And I know next to nothing about the internals of dell, let alone what they've done since being repurchased and privatized.
Kind of a fun thought, even if it's a little far fetched.
That's not to say Dell has to remain incompetent at software...with a will to do so, and enough money and competent management (which Dell does seem to have), they could theoretically build a top-notch software engineering organization.
Dell focuses heavily on Profit & Loss for each team and that drives the investment. Their focus is to keep OpEx as low as possible.
Unless the company culture changes heavily, which I dont see happening, esp. with Michael back at the helm, things wont change. They make good cheap hardware and thats about it. Everything else, including some hardware, they push work upstream to vendors.