Intel seems fixated on the idea that users want some sort of convergence device that combines a tablet with a traditional PC. They see the iPad's sales numbers and think: "If only it had a keyboard and ran a PC OS..."
Adding a touch screen to an ultrabook doesn't address the fundamental flaw in such an approach: users interact differently with touch screen devices than PCs. Slapping a touchscreen on top of an OS that isn't really geared to the way users interact with a tablet device won't address that; all you wind up with is a device that does many things poorly, For example:
You wind up with a UI designed for keyboard and mouse; with programs that primarily rely on a keyboard for input. Sure you can navigate with a touchscreen but will still be forced back to a keyboard for most work unless software developers add in touch input capability beyond just an onscreen keyboard. Without that, you have a big touchpad that needs a keyboard anyway.
Screen resolution is more important on a tablet than a PC. The iPad's Retina display makes it really good as a reader; to do a similar display on a PC quickly drives up the cost. So you wind up with a cost vs quality issue; making the tablet part less compelling.
Portability suffers as well. Tablets are nice because of their size; which makes them ideal for casual reading, email, watching video or web browsing. You can easily carry an iPad around all day where a PC quickly gets cumbersome.
Along with portability is battery life. Most tablets have really good battery life relative to PCs. A tablet that goes dead twice as fast as those on the current market is not very compelling; or you have to add expensive batteries to get reasonable useful run times which drives of cost. Alternatively; you could add big batteries but that then hits the portability issue.
Is convergence possible? Sure, and I think it will happen but it will be driven by software, not hardware. Once the software delivers an experience that lets people use a PC less and less the transition will occur. At that point, however, your less likely to see a laptop with a touch screen than a tablet that has a wireless external keyboard / trackpad for times when a finger on screen just won't cut it.