I might be vertical but what's the BMI?
HP (& its server selling competitors) are addressing a problem. In a virtualised environment the world needs less servers. So the answer is: make all those servers into something else, like... storage.
Take Left Hand as an example: you want storage that comprises, say, 72 physical drives. You get something in the order of 12 CPUs and 24GB of memory along with your drives all stuffed into 6 storage units (good job I didn't say servers). A typical mid-range, dual controller storage array does that with a couple of CPUs & maybe 8GB memory, tops.
Looks like EVA technology is also due for server fattening if El Reg's recent notes are accurate.
HP's might be a vertically integrated model but it sure gets lardy around the bottom.