Why shouldn't (or should be) there be an ASUS Nexus 4 smartphone?

It seems the origin of the heavily-circulated rumor "five Nexus devices this year" is Google opening up the Nexus program to any Android manufacturer by meeting some requirements rather than Google picking them up.

http://rootzwiki.com/news/_/articles/rumors/google-looks-at-changes-to-its-nexus-program-r1167

And if the recent rumors of Google wanting a Nexus smartphones based on the Nexus 7 are true..

http://www.bgr.com/2012/10/04/google-nexus-7-smartphone-rumor/

..wouldn't make sense if ASUS grabbed the chance to create something that is based on the device they manufacture themselves? Add to that, what is the non-Nexus phone that is close to being a Nexus phone today? I think it's the ASUS Padfone...

Padfone-phone_medium

I know we're talking about rumors here, a lot of them. But if the rumors were true..

do you think it's a good idea for ASUS to manufacturer a Nexus smartphone for the 4"-screen crowd? I thought 4-inch because other manufacturers will probably out Nexuses in the 4"-5" range like the already rumored LG Optimus Nexus a 5-incher from HTC. There's market still for users who prefer smaller 4"-screen phones. If Google decided on a Nexus 10 tablet by ASUS. They, ASUS would be a win, win, win situation. Asus Nexus 4, Asus Nexus 7, Asus Nexus 10. What the hell I'm I talking about?

Www