It's a bit larger and heavier, but the HP convertible is the more versatile option especially in regard to its integrated 4G LTE Cat. 16 connectivity. The leather casing and brown colors fit perfectly in a coffee shop setting.
https://www.notebookcheck.net/The-HP-Spectre-Folio-makes-for-a-good-alternative-to-the-new-Apple-MacBook-Air.368341.0.html
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.