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Return of the Pixelbook: why it finally makes sense again for the first time in years
(chromeunboxed.com)
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It makes sense because they're desperate.
As an example, a new Pixelbook built just to show off a Pixel-exclusive Tensor chip would have been anti-competitive and against the spirit of the ChromeOS partnership. There was no new hardware paradigm that needed a guiding star, thus it never materialized.
Isn't that exactly why Pixels exist?