Sure, but Linux can also generally run much more efficiently than Windows. I think having Linux on the cheap version could conceivably be both a cut in licensing fees and also a way to make economy hardware specs viable.
Basically, the difference in price between the two SKUs is purely hardware based. So, buy whichever hardware you need, and install GNU/Linux.
On a side note, I have an HP Stream 7 tablet with an Atom CPU and 1GB RAM, and it runs 8.1 very well. I'd imagine even the lower spec SKU of the Intel stick would run it fine. Storage space would be the only real issue for that OS.