A folding display solves that issue. Small when it needs to be, large when you want it to be.
Yeah, it's thicker than a typical phone, but that's usually not the limiting dimension when determining pocketablity.
I think this is probably the sticking point for people who don't see the point of this. At least for me, there's no unserved gulf between my phone and a computer. I've had a tablet in the past, but there was really just no use case where the tablet was the top choice over both my phone and computer; I always preferred one of those over the tablet.
For that it is a cracking little device, a phone screen is too small to read comfortably and if I'm watching a movie in bed the ipad is the perfect size.
Originally bought the device for testing and it ended up been the thing I spend the most time looking at after a desktop/laptop.
Enough that I'm considering buying the new ipad mini and giving the old one to my stepson.
(I feel silly writing this, but just in case it's not clear, I am referring to a generic "you", and not you in particular.)