Basically, if you already got the skills to work with "bare" microcontrollers, you won't need all the simplification and handholding that Arduino provides and you can just buy the individual chips and fully utilize the tiny form factor and low power requirements.
If you want to learn programming microcontrollers, then locking yourself into Arduino's abstractions is probably counterproductive.
On the other hand, if you do want to just combine different ready-made modules, focus on programming and don't want to worry too much on the low-level stuff, you will probably use a raspberry pi or similar: The form factor is only slightly larger than an arduino, but you get a full-fledged PC instead of a microcontroller.
So I don't really see a niche there.