Yeah, but the problem is, a big part of their strategy was "make the big moves Jobs wants".
Apple should certainly be able to keep iterating their current product lines, but without the frisson of the "next big thing" that Jobs was able to find/create/sell because of his vision/cult of personality/whatever, even the Apple faithful may find the lineups they're getting beginning to grow stale. That way lies irrelevance, sort of like Moto after the OG Droid...
Jobs has a knack for implementing the right mix of features in a product to make it sell. He is a visionary and many who hate Apple hate to acknowledge that.
I think Apple should be fine for the next few years, and not even because of $70 billion in the bank. I think upper management and the board saw this long ago and have prepared for it so it's no big shock to the decision makers at Apple. His resignation letter also makes mention of a succession plan, which Apple previously denied existed.
The other thing is that Apple is largely a design driven company and they have some great designers employed. This should allow them to continue to drive products with new designs. I mean, let's face it, most of Apple's products aren't new tech wise. They're extremely well designed with the right mix of technologies to make them hit products. Love them or hate them, that's how Apple has been run in recent years.
And Jobs will remain an Apple employee, presumably more active than Woz. He also wants to remain as Chairman of the Board. So he'll still be active in some capacity. Likely shaping some of the overall strategy and overseeing some of the new products while Tim Cook does the day-to-day grunt work.