Arstechnica got their hands on an internal Apple email Steve Jobs has sent out yesterday. Steve is quoted saying that "MobileMe was launched too early and not up to Apple's standards".
Apple has restructured the MobileMe team that now reports to Eddy Cue. Apple was actually under no pressure to release MobileMe at the same time as the rolled out the iPhone 3G, iPhone Software Update 2.0, and iTunes App Store.
Steve Jobs also said in the email: "The MobileMe launch clearly demonstrates that we have more to learn about Internet services". Well, that is true; at least the MobileMe internet service is already a fine looking user interface - now it just needs to work fast and reliable.
More details on Arstechnica.