799 USD for 4GB RAM, 128GB of flash, and an "Intel Core m3"? Come on. I understand that the Intel CPU is almost 300 USD per unit, and that pushes the price. I hope that Snapdragon SoCs running Windows 10 with emulation for x86 stuff drive down Windows 10 tablet/laptop prices dramatically. BTW, despite being expensive, the new Surface Pro looks great.
In my opinion, Intel is playing Serguéi Bubka's technique: because there is no enough competition, they go as slow as possible in the mobile market, just matching the performance of the second competitor.