If things would be as easy as that, flip to Android and compete with the rest... to the bottom. How would you differentiate yourself vs HTC, Motorola, etc?
What if the Chinese android handsets comes up with cheap mobile phones similar to BB hardware interface (the golden keyboard, you know that BB users love BB because of the keyboard).
Switching to Android makes RIM an average company like everybody else.
It's a perfectly viable strategy. Combine your peanut butter (hardware design, workflow, bb messaging, etc) with proven chocolate (android smartphone technology) and try to make something that preserves the unique qualities your company is known for while keeping pace with the competition on other features (high quality mibile browsers, games, etc.)
I know several people who still use blackberries because they are fundamentally superior for certain business needs. But that's just an extreme corner of the market, ultimately people will make due with other options that are "good enough" in order to take advantage of other benefits.
As far as the lowest common denominator problem, if you think htc, samsung, and motorola are in a race to the bottom then maybe you haven't been paying attention.
Samsung in on pace to become the #1 seller of phones in the world and the #1 seller of smartphones in the world. I don't have access to their numbers since they're a private company, but from what they report their revenue and profits dwarf that of RIM.
Most Asia-based manufacturers can have lower cost than any North America-based manufacturers. Just ask Broadcom whether they're feeling the heat from Taiwan-based manufacturers.
Race to the bottom doesn't necessarily mean a bad thing if you can produce the cheapest alternatives. But it is bad if you can't do that.
So by the same logic, Porsche and Ferrari should stop making gasoline powered cars with 4wheels in a race to the bottom with kia/hyundai - and switch to 6 wheel cars powered by waterwheels?
I think RIM should learn from Nokia's mistake and switch to Android soon as possible. This is the only way to survive for them.