AMD will start selling a range of SSD products under the Radeon brand later this year. However, with the flash chips sources from Toshiba (19nm) and controller sourced from Indilinx (Barefoot 3) AMD isn't exactly bringing anything new to the table.
Which is totally dependent on outside partners to build. If Toshiba winds up getting a great deal to supply someone like Apple with flash, guess who gets squeezed out? I might buy one or two for home use, but I'm not sure I'd go beyond that because of concerns over supply.
Mediocre is right but it's certainly not a new practice. Clevo make a ton of laptop cases which they sell to smaller 'custom' laptop companies. They're largely the same save for branding and specs (though when you're using the same boards how much changes?). It's amazing, really. Alienware Area 51-M is the same as the Sager 5660. Sager rebrands clevo, Dell rebrands Sager.
I'm not totally convinced AMD's management knows what it is doing. This sounds like an also - ran strategy. That said, I seem to always root for the underdog, so I hope they make it.