I don't disagree with the 2-1 device strategy... I like those devices. But I find the ones on the cheaper side to be too slow. The performance takes a hit when it has to run the full OS. Even the M3 processors are a bit sluggish on some standard things. I think there is room in the market for some pure Windows tablets... Especially with the continuum feature. Win10 Mobile seems to be pretty light weight and if all you want to run are the UWP apps, there is no need for the full OS.
Yeah, there are many Yoga models that are 2-1, but the one with the insanely long battery life, that I'm talking about, is purely a tablet (2, the 8 and 10"), not a 2-1. Obviously, they have a small "kickstand", so you can watch a show, or use a BT keyboard and mouse, or you can project, more or less like Continuum, but in a really small tablet form-factor.
Weight is just over 1lb, so definitely heavier than a phone, but I think most 8" RT tablets start to fall into this category too, except that the Yoga is full 64-bit to start, and typically has 4-8GB, and more...
Not saying this fills the niche necessarily, but it's pretty darn close, and has that 12-17 hour battery life for browsing, which makes it competitive there. too...