It means its still ARM based and thus it sucks!
Slow? seriously? Really depends what you're doing with it, I have a BeagleBoard XM 1ghz single core, running Ubuntu 14.04 LTS. I use it as a server to run web apps written in Go, they absolutely fly on this little board. You just have to make sure you try not to hit the disk too much because it's just an SD card. This little quad core board will be the perfect upgrade to the Beagleboard XM for running my Go webapps as I gain more cores and it's running @ 1.5ghz, also it supports an eMMC card which is going to be an improvement over the SD card when it comes to disk speed. One of the things with the Raspberry Pi is that it was based on an older ARM chip that Ubuntu didn't support so you had to run Raspbian instead. I've held onto my BeagleBoard XM because it's a newer ARM v7 chip that can run Ubuntu 14.04 LTS unlike the Pi. I can cross compile my ARM binaries on my desktop for the ARM v7 target and run them straight on the BeagleBoard. Hoping this new little ARM board is ARM v7 also but it probably is.
He: Let's end it all, bequeathin' our brains to science. She: What?!? Science got enough trouble with their OWN brains. -- Walt Kelly