Instead of "Intel Inside", Intel will be the only name on the box. Once you make the CPU and the motherboard, all you need to do is drop it in a piece of injection-molded plastic and put your name on it and you've got a thin client.

MS may not like that, though. Once you commit to thin clients, you start wondering why you're paying for all that software. Boot from the network and do everything remotely. There are companies making systems that do this really well. MS isn't one of them.