You're missing a lot.
First of all, calm down.
You need to be aware of three major points:
1. Jobs stated that Apple intends to support the PPC platform for many years to come, and that they have more PPC products in the pipeline. The Intel based Macs will hit the streets next year.
2. Apple's development environment, Xcode, will compile 'universal' apps, trivially. The binaries from the compiler contain the code for both platforms. In one package. That knows what bits to run. Tres cool.
3. There's a translation engine called Rosetta that runs on the Intel Macs that will run all PPC apps, for those that haven't been recompiled into universal apps. Also, very cool.
There is no G4 sucker
