I have something similar (but an even older netbook). I'm using Alpine, i3, and mostly w3m (or Midori if JavaScript is needed). Given that Windows 10 on the netbook was completely unusable, it's impressive how functional it is with Linux.
It cannot handle modern bloat, however. Firefox just eats up memory until the machine freezes and I can't run a single Electron app for too long. Sadly, those make up far more than 1% of my use cases.
Overall, it's nice for distraction-free computing. I learned Common Lisp and Emacs exclusively on that little netbook. I probably would have gotten distracted by some shiny web page partway through if I'd been using my more capable desktop.
Edit to clarify: I'm curious what all you're able to accomplish with your similarly spec'd machine.