It's been done several times before.
For example:
Founder of the Free Software Foundation, Richard Stallman uses a similar laptop computer called the Lemote Yeeloong:
Ironically, the laptop is a product of the Chinese Government which isn't exactly known for its freedom when it comes to other areas.
Stallman's only computer is a Lemote Yeeloong netbook (using the same company's Loongson processor) which he chose because it can run with 100% free software even at the BIOS level, stating "freedom is my priority. I've campaigned for freedom since 1983, and I am not going to surrender that freedom for the sake of a more convenient computer."
Read that last sentence. IMHO the biggest problem with these things is that they are likely to only attract a hardcore minority of users who really care about free and open source software. For the average user, why should they switch to a shoddily-built laptop from an unknown company running on a
Linux distro that 99.9 percent of people have never even heard of and is incompatible with most popular software out there when their Dells and Macbooks are working perfectly fine?
I like the idea of a completely free and open source laptop but let's be realistic here. These types of laptops will have no appeal to anyone outside the small community of hobbyist hackers and hardcore FOSS advocates (not to mention that after looking at the prices for that thing, it's only the rich ones who can buy it too).
If that is its intended market, then so be it. But let's not get carried away.