Allen, you left out the part where the MBA has much better, industry-leading build quality, audio, and inputs compared to the Folio. It's also not reparable by any means should anything go wrong like most HP's consumer brands after a year of warranty.
You've also overlooked multiple long-term factors including durability and reliability of a completely new type of chassis.

People could spend less than $800 on something like a Lenovo Yoga 730 that is lighter and more powerful with similar hardware. The Folio would have been a considerably better laptop starting at around $700 price point. In 2018, demanding $1,300 for a 1.3Ghz dual-core with no dedicated graphics is entirely out of line.