To me, it suggests that there is an expectation of respect based upon excellence.

I think this is an important factor when it comes to motivation by negative emotions. If you have a previous feeling of mutual respect, the criticism doesn't shake the person to their foundation, but is focused upon the actual thing being criticized. If you don't have mutual respect, any criticism can be confused as a criticism of the person themselves. I have a feeling that Job's understands this. Apple hires excellent people, and he expects them to be excellent. My guess is that the employees know that he was talking to them on the level.