Of course, it does. The price difference is small enough now that the Neo is in the running. There's no doubt the build quality is going to be much better than a Chromebook.
I worked in education for 20+ years; that $499 is just the starting price; a school or school district that buys them in quantity is going to get an even better price.
Sure, a Chromebook is better than nothing, and if you’re an impoverished school district, you may have no choice but to go with Chromebooks. But if there's an opportunity to get Macs at this price point, most school districts are going to take it.
Don't underestimate Apple's sales and support infrastructure. Many of the schools in the US are in areas with Apple retail stores, where sales and support work out of.
It's hard to imagine a school committee going with Chromebooks instead of Mac Neos for a little more money and likely better support. The parents aren't IT experts, but they know Apple is a trusted brand, and Macs are "better".