There's a Ferrari F430 in the garage down the street in NYC. It has the sexiest damn car cover I've ever seen. I mean, it was the Ferrari of car covers.
Which means it's not impossible for Ferrari to make something awesome that's not actually a car.
Something to think about the next time you see a random piece of crap product with a Ferrari logo slapped on it. It's not like Ferrari should only license products that are targetted at their actual, current buyers. It's that a licensed product shouldn't make a Ferrari admirer wince and go, "WTF?"