It's a U-series CULV CPU. Intel's
mainstream chip series have actually been going
down in performance, as Intel tries to "recuperate" large gains in power consumption levels against ARM in big gulps with each generation (it can't do that
just from new nodes and IPC optimizations, so it also lowers default clock speeds).
Now Intel is pushing even lower-performance chips than the U-series (the Y-series/Core M) for the mainstream, and as we've seen even Apple is going for that in the new Macbook Air.
I wonder if they won't be pushing a 500 MHz (base speed) 3W TDP "Z-series" in a couple of years for most mainstream notebooks (while still charging ~$150-$200 per chip).