If those are the only factors and the numbers fall in particular ranges, sure. Otherwise, no.
Try doing the math here. How much cheaper would a netbook get if every single developer coordinated to reduce RAM and CPU usage? $5? Maybe $10? Looking at market prices, old RAM and CPUs are cheap. They consume basically the same physical resources as new RAM and CPUs, so price competition for not-the-best hardware is fierce.
Now ask those people if they'd pay $5 or $10 more for assorted new software features. Any features they can think of. And keep in mind that in that price range, people are paying $10 more to pick the color of their computer.
So sure, it offends me a little, because I like optimizing the things I pay attention to, like RAM usage. But if instead I optimize for the sorts of the things users care about, especially as reflected by what they'll actually pay for it becomes pretty clear: users don't care about the things I do.
So then the moral question becomes for me: who am I to impose my aesthetic choices on the people I'm trying to serve?