Not really. Andy Rubin said this is being sold at cost, so either Google is paying for Asus' margin or none of them is getting a margin on this device, setting a price point even harder for manufacturers to match.
It would make more sense to me that "at cost" is relative to Google. Google pays Asus to manufacture these devices. I'm pretty sure that the payments to Asus include Asus' margin. The point being that Google is getting no margin.
If Asus can make it for Google with a margin for themselves, then other manufacturers could do the same. I doubt that Asus is making these devices for Google at no profit.