ahh I don't know how many times I've had to explain this....
Via bought two CPU companies, Cyrix and Centaur Technologies. Cyrix was poorly managed and soon after the entire team just fell apart without every producing a product. The C3 you see today is the product of Centaur Technologies lead by Glenn Henry a former CTO of Dell and a small team of engineers. From what I have heard about them they are a very talented bunch and allowed to run basically seperate of Via without much pressure, and it would definately be premature to dismiss them at this point. If they put their minds to it, I think they would have a good chance of producing a very competitive chip, but that just isn't where the focus is right now, its on emerging markets in Asia.