I mean, for a small PC, it’ll be much more suitable.
The Celeron G4920 is currently $55 so this will be a much better alternative in that price range when every dollar counts. It has better graphics, consumes less power and will cost less than a Pentium Gold G5400 which also has 2 cores/4 threads.
Best guess is that this is a scavenged Raven Ridge chip and the Intel parts could easily be built on a 2 core mask. I don't think AMD wants to sell many of these (they can make the 2200G/2400G and various mobile chips for the same price), otherwise they would have at least provided "Vega 6" which would presumably match the G4920 (a naive scaling shows that the AMD will perform twice as slowly as the Intel part).
AMD is probably feeling out the market and getting resellers used to working with them. While this is almost certainly a Raven Ridge chopped up, don't be too surprised if they produce a similar thing in 2020 (or 2021) that doesn't require such butchery. Intel has been stalled at 14nm for 5 years (with certain improvements, but no real scaling), and AMD may well plan on shipping 7nm parts for another 5 years (which would justify creating a separate mask for 2 core parts. Or perhaps they won't see a reason to ship below 4 cores, much like most ARM phones have at least that many ARM cores). Whatever the case, AMD has had to make do with very few specific chips for all their SKUs, but this might change soon.
On the flip side, Intel uses as few masks as possible. I think at one point they were using the same mask for celerons, pentiums (back when that was the name of their main desktop processor) and xenons. Doing one thing very well and repeating it as often as possible has made Intel very, very rich.
Expect to see cheap laptops like this sooner or later, possibly even at a lower price point (smaller 1366 x 768 LCD are cheap). Unfortunately, also expect the single stick of memory. Of course with half the cores and less than half the GPUs, it might get away with half the bandwidth. Single core performance will certainly suffer with only one channel, and that will be much more painful on a system like this. I'd also certainly prefer a $25 Inland Pro 120GB SSD to the rotating drive listed here (and it could also fit in a laptop easier).
I had to check the cheapest Optane I could find, and came up with a 16GB NVMe that cost more than the 4GB RAM stick, so I doubt it is worth it (although for jobs that need 4-16GB it would work surprisingly well. Just don't expect to justify the cost beyond 8GB.