You can get a new Win8 tablet in a similar spec and post-inflation price range to the old netbooks(Atom CPU, $250-350). Attach a keyboard to that and it's basically the same experience, just a little faster and slimmer.
You can get a cheaper tablet if you opt for Android - or a more expensive small laptop if you get an ultrabook. So the price spectrum is actually covered better than it used to be, just with different categories.