While I'd generally find myself in agreement with you on many ROS matters, I think you're being a bit unkind to RISC OS Ltd.
It is blatantly apparent that Psion themselves didn't know what to do with netbook or even if they wanted to sell to the public. In the light of that if I'd been in Paul Middleton shoes I'd also have been reluctant to do work on adapting the OS for a platform that might dissapear (as it did) in a puff of smoke.
True perhaps the work might have been reused for other things - but what other things ? Omega didn't need it, and Iyonix was not yet a gleam in Jack Lillington's eye.
As to the notion of Select on RO5 I'd be inclined to think "so what", I bought my Iyonix knowing full well it couldn't (and probably *never* would) run Select. So (purely from my viewpoint) it doesn't really matter *if* Select runs on Iyonix or not - I'd argue it would be of benefit to ROL if it *did* - but if they can't see that why should I (or anyone else) bother to try persuade them otherwise.