There are two distinct models. The higher end model has an SSD with 8gb of ram.
The real niche for a product like this is for those of us who, for better or worse, use Microsoft products for work. Outlook for iOS just isn't robust enough. I have a top of the line Surface Book 2, so this device - when an LTE model becomes available - will be far more useful than an iPad. I can run Office 365, full outlook, word and excel and most importantly my firm's custom plugins. I don't plan on getting a huge amount of work done, but it is great for reviewing work and email on the go and light editing of documents. I also am a pretty heavy Evernote user, and that also works without difficulty. You combine that with the Edge browser, which works well on low-end hardware, and it does pretty much everything I need.
I've had an iPad for a while, and I almost never use it. I'm not even sure why people buy the things, they seem almost totally useless to me.
The one thing that is annoying is I would like to run Lightroom CC on the device, but I have a feeling Adobe is not going to free up a license for this thing, or create a scaled down Windows Store app like the iPad has. That's pretty much all I do with my iPad - review Lightroom CC photos and read PDFs and read emails. Outlook sucks for responding, and Word and Excel don't work with my documents due to the custom templates and myriad formatting issues.
Overall you're looking at this like an iPad - it is not for media consumption, which I presume is what many people use their iPads for. It allows you to get real work done, which is pretty much impossible on an iPad.