Phones are handling a lot of tasks at once which, in a simple minded analysis, suggests that the user exp. will be better with 4 cores. I notice delays on my dual core tegra, even though it is (or at least, was) touted as best in class.
There was an article on EE Times Europe sometime back written by a guy from ST Ericsson with an argument that Quad cores were definitely ahead of its time.
Qualcomm expressing a similar thought would mean NVIDIA is definitely rushing their processors to the market.
Qualcomm has the ability to design almost every piece of silicon in a handset and by far qualifies as the best system provider in this business, I am sure they can afford to lack in the GPU front and still have a lock on 30% of the smart phone market.
QC does sound a bit defensive about their graphics and seem to be trying to make up for it by quoting various factors ( 2 vs 4 cores, hotspots, life - when most of us change phones within 2 years ) that the average end customer may not care about and thus may not play a role in selecting the chip by a smart phone mfr.