I actually think the Apple of today is completely different company than the Apple of the late 70s / early 80s, and the two companies have basically nothing in common at this point. The way I see it, before the iPhone, Apple had never had any truly mass market, "it's for everybody" product line. They had a long series of niche products. The iPhone really changed them, in ways good and bad.
Nevertheless, I appreciate Howard's perspective, even if I'm not totally bought into it.