I agree the form factor/design of the fanless 12” MacBook was gorgeous, it was just a grossly underpowered machine and a thermal disaster. And don’t get me started on the soldered SSD...
By all means, I’d welcome back a similarly svelte design but only if the rumoured significant performance and power efficiency upgrades actually manifest with ARM.
But at this point, they may as well consign the “MacBook” line to history and just stick with the Air and Pro. This shouldn’t mirror the iPad where you have the 3 lines of budget/education, Air and Pro models.