Well, they've stated they don't see much value in current Netbooks in the past. But I personally think they've already changed their mind - Apple make dumb choices occasionally, but they're smart enough to see when they've failed - see the Apple TV, or original Mac-only iPod. We'll know this as soon as they have something for people to buy.
Your needs - valuing battery life, portability, and a reasonable price over powerful specs - are actually common for most netbook users.
An iPhone is not a Netbook substitute. Ever tried browsing for two hours on an iPhone? Writing a long email or Facebook comment? Wonder why people who own iPhones also want Netbooks?
Edit: Could someone please explain what was offensive or factually incorrect about my post to moderate it to zero?