I somewhat agree with your arguments but have several counter arguments as well.
Revenue doesn’t necessarily mean top line sales, it means how much money you are making off of your customers. Revenue certainly doesn’t mean volume (units).
For example, according to the latest IDC WW server sales tracker, Oracle SPARC server *units* out shipped IBM Power servers during CY2011 and SPARC servers out shipped Itanium by over a factor of 2x. Solaris systems out shipped Oracle Linux systems by over 2x with over 4x more in revenue. So over the past 5 years, 52% of the UNIX shipments have been Solaris-based systems and Solaris is the UNIX market shipment leader at 34% for CY11.
And as for IBM "was/is the ORIGINAL integrated/engineered systems company", that may be true in distant past, but since the last 5-10 years have been focused on services, IBM has lost the edge in delivering a truly engineered system based on non-proprietary technologies. Just look at all the gaps in their Puresystems. Which HW technology is "engineered" with which software and does mixing the two make anything faster? IBM's just selling a kit car fully assembled.