Not quite accurate - and this is why most people are confused. Ignore the marketing - .NET is the new Windows API. It provides a platform for web services, yes, but that's only one aspect of it. MS are pushing the web stuff hard, because it's a pretty new feature for them, but the other stuff shouldn't be ignored.
Hmmm. Not convinced that's quite the way to put it. I'll not bother posting swathes of text to refute it, but take a look at http://www.ximian.com/tech/mono-index.php3 or http://www.microsoft.com/net/whatis.asp for more details. I think to say .NET is "the new Windows API" is a little too glib.
Andrew.