Probably, but Apple's a good scapegoat.
Seriously though, I don't think Apple was exaggerating their frustrations with current processor suppliers. The G4 seems so terribly stalled with the bus speed remaining nearly laughably bad.
The G5 was very advanced when it came out, but it can now only hold its own among high-end processors for certain tasks. Not to mention the fact that IBM was never able to make it smaller, cooler and less power-hungry for use in portables.
I think (hope) Apple's product pipeline will move much faster once the era of Intel starts. I can imagine we'll also see MUCH more variety among the Macs, including actual choice of processor with built-to-order computers.