This could be huge. Even if they just take the route of updating the most popular phones to the latest versions of Android, bypassing the slow manufacturer+carrier update cycle, they could easily have a platform if they can get the adoption.

Make an easy "switch to CyanogenMod" installer for the top handsets, and provide your own OTA updates faster than the actual device manufacturer and you could have quite the platform. Plus Google will love you since you're keeping more of their devices up-to-date, essentially fighting the fragmentation problem for them.