For me to justify spending over $2k USD on a 2-in-1 ultrabook, I need a "lite" convertible version of something like Asus Zephyrus G14 / Razer Blade Stealth, but lighter in weight and horsepower.

Ideal Specs:
Ryzen 4600HS/4800HS + GTX1650/1660/Ti + 14" 16:10 QHD 120Hz IPS/OLED + 78Wh battery + Wacom AES/EMR Stylus, all under 1.5 kg with quality hardware

Until then, I'll also stick to my $1,200 Yoga C940 (i7,4K 500nits,16GB) and eGPU through TB3.

The biggest problem I had with the EliteBook x360 series in comparison to the Yoga or any other 2020 ultrabooks were poor performance and cooling solution tested with eGPU under sustained CPU loads. I know it has better keyboard, I/O, LTE and all that, but those could be improved with accessories on the Yoga C940 whereas CPU performance on the EliteBooks cannot.

I think you want a 3:2 screen not a 4:3 one.
Also did you look at the acer spin 5?

You must be right regarding the power block  :D regarding the Lenovo, well, I chose C940 Yoga, which also doesn't check all the boxes.. It has faster cpu, faster ram, much better igpu, astonishing display - but still 16:9.. Honestly, there aren't any laptops currently, which check all the boxes for me. It was more like expressing what I want to see. There is Acer Swift 3 with 4:3 display, but it's not convertible and worse in some other aspects...

The power supply weight must be a typo in the article. I have not measured it on a scale but it is one of the smallest/lightest PSUs I've ever used. I competely agree on your other points. Out of curiosity, which Lenovo did you chose that ticks those boxes?

Convertible EliteBooks desperately need upgrades. I've been in the market for such a laptop and had to choose Lenovo instead. What exactly I would like to see:
1) Better quality (not to say that the display is bad, but roughly 60% argb..) display with 16:10 or 4:3 ratio. You are right, 16:9 is good for multimedia/gaming laptop, but horrible for work ultrabook.
2) Modern APUs, either AMD Renoir / Lucienne or Intel Tiger Lake. Comet Lake just looks inefficient compared to those; yes yes - I get about vPro stuff.
3) Faster low-latency RAM. Lpddr4 2933 -> Ddr4 3200 or Lpddr4 4133.
4) Of course, better iGPU, but this is related to #2.
5) Lighter power supply. Really, the weight of power supply here is = to the laptop itself! Together 2.5 kg...
6) At least 3 USB 3.1 Type-A (come on, I connect a mouse and keyboard and it's done!) and bring back the LAN.

Then it's be worth $2,200. Right now it's a complete joke.