They might be able to pull out of the race to the bottom / razor-thin-margins that is the non-Apple PC market, build up a high-end image doing cutting-edge industrial hardware, then (possibly) reconsider a consumer relaunch as a high-end, high-margin brand.
In a weird way I'm happy that Hewlett and Packard are not around to witness this, to see the work of a lifetime butchered like this is just too painful.
HP was a unique company and it definitely isn't the first time that such a unique company flows from the hands and brains of unique people and does not survive the transition to new management without significant damage.
The HP story does not bode well for Apple, which was even more the brainchild of some pretty unique individuals.
Steve Jobs is still around, and I really hope that Tim Cook will not embarrass Steve in the way that the HP board has fouled the HP legacy. Those guys deserved a lot better than this. Once upon a time there was the HP way. Today that's the stuff of legend.
And I'm only half joking.
http://www.home.agilent.com/ http://en.wikipedia.org/wiki/Agilent_Technologies
Agilent is basically the instrument division of the 'old' HP.
The company named HP will not die anytime soon but that's irrelevant - it's just another large IT services vendor.