The philosophy about MeeGo is:

-You could simply install it on your desktop (like Ubuntu)
-It would run on weak/old computers (like Ubuntu)
-It is a linux distro, so many applications can easily work in it
-It offers one of the best frameworks available for Applications (architecture independant, runs much closer and faster than Dalvik etc)
-It would basically be a linux distro, started from scratch using only the best tools (unlike Ubuntu full of many bloated features)
-It would be aimed primarily at ARM-architecture, with the possibility on running on everything (pmps, PCs, appliances).

Imagine having something like a Galaxy NOTE use even less battery but work equally fast.
Then seemlessly integrating it to your appliances "You are running out of milk, the oven needs to be checked, There is an intruder in your house I'm streaming the video to you now, Your car is consuming 12.34L per 100km, Sending Apps from your phone to your Tablet/PC etc etc"