P.C. = Personal Computer. Any piece of hardware/firmware/software combination that performs a specific task, regardless of its architecture would still be a p.c. The size, look and cost of the box and its contents are not what a p.c. is.
It's a case that we have gotten use to calling that thing with an X86 or celereon processor a p.c.
"IBM compatibles" as we used to call them when there were more standards about (before the redesignation of the Mac as a toy for arty types
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This "cell" idea is nothing new, it is just another example of distributed computing. Anyone knows that buying more expensive CPUs is a law of diminishing returns. Looking at one retailer today, an AMD64 rated at a performance figure of 3700 is £305, whilst one rated at 3400 is £150. Twice as much money for a 10% performance increase.
So, rather than try to build one big powerful CPU, you take several cheap CPUs and work them together in parallel or in distribution.
Such computers are no longer the stuff of Universities and government institutions, a dual-processor PC is not THAT uncommon in the home of an enthusiast, and there are also people who build "Beowulf" clusters. Such a cluster is a big pile of discrete PCs, connected via a network (people often use gigabit ethernet for this), that then appears to the user as one very powerful computer.
"Cells" is just a nice pretty name, and more cleverly packaged processing nodes. In fact, what they show in a diagram offers little difference in it's design to a P4 with "Hyperthreading".