It's for dads. For real, I just came back from South Korea and every dad had galaxy fold which makes sense as a family travel power phone. Only dads can pull off this absurdly awkward look of unfolding your tablet to take some off-angle pictures of a pine tree lol
I commute by train everyday and having a tablet I can carry in my pocket is really convenient. I only recently got a Samsung Z Fold 4 but am loving it so far.
I hear you but to do what in small tablet mode? I'm genuinely curious what a small tablet gives you that a larger phone (which is lighter & thinner) doesn't?
It is much more comfortable to read the news, respond to e-mails, and do simple productivity tasks on a tablet. I can comfortably read an excel spreadsheet from work and so on.
I also really enjoy playing board games on Board Game Arena and the large screen makes it almost as easy as using a computer.
It's the dream of just opening up your regular phone to have a small tablet, clashing with the reality that your phone will never be regular sized if you want it to be able to do this!
Maybe someday phones can be like 4mm thin, so doubling that for a foldable would be reasonable. But we are definitely not there yet.