Smartphones are a relic from last decade. They were revolutionary when they arrived, and in a few years completely wiped out not only competing phones but also compact cameras, GPS gadgets and more.
Since then not much has changed. Apple invents something and Samsung etc, rushes to ridicule them and then copies the feature. Apple does the same (minus the ridicule). The smartphone innovation for the past 4-5 years has pretty much been limited to a missing headphone jack and a screen notch. Everything else has been incremental upgrades.
Still, the first iPhone didn’t have an App Store, and the 3G model had an App Store but no apps in the beginning. And people still bought them.
The iPad was ridiculed when it was unveiled, and yet it seems like everybody has a tablet these days.
The smart watch was curiosity until Apple launched the Apple Watch, and it was ridiculed for being ugly. Millions of people bought them, and today they’re pretty well underway to disrupting the fitness tracker and health monitoring devices.
Bring the right technology along with a developer friendly environment and that could easily happen again if the technology is disruptive enough.
As for competing with chromebooks, you’re essentially replacing X devices with a single device.
Of course you’d still need some kind of external display/monitor, but if connection to those can be wireless you could start seeing some really great combinations.
How about a screen you can fold/roll up and keep in your jacket ? Or just a “notepad” that is a monitor ?
Or in a few years when everything with a processor is probably 5G enabled, and every wall panel is a potential display ? Point your device at the wall (using existing technology like the U1 chip in current gen iPhones) and suddenly your dining room wall is a 4K Cinema Display being broadcast to from your phone.
Your kitchen wall or office wall could become a desktop display, again broadcast to from your phone.