What you're asking for already exists, minus the dial. It's called a Cintiq.
Except wacom doesn't put as much effort into the display. The "air gap" on ones I used was noticeable and off-putting, and the cursor lag was noticeable, too. It needs a "hover" state to show your cursor because it isn't as lag free as something like the iPad Pro (again, my best friend's conclusion as he has them side by side). The displays themselves aren't as nice. The viewing angles, contrast, etc are just not up to snuff. I don't believe Wacom has the chops to get such a nice display, and I believe their proprietary screen tech has some inherent limitations. Sure, the pens have no batteries, but the displays are limited as a result. Apple keeps making displays thinner and thinner and that means it looks like painting on the glass. MS, from impressions I have read, has also accomplished that.
Wacom just got toppled, and toppled
hard. If you use Windows and a cintiq, I believe this is the better option.
If you use a mac, there is another option that is better than the cintiq. Given what people I know are doing with an iPad Pro, Astropad, and an iMac (or any mac as the "hub"), I think Apple has a compelling solution. The iPad Pro + Astropad is portable. You can do what you need to do everywhere. Use it at home or at work, and all you're carrying is a light weight iPad Pro between your work and home mac machines.
I just can't believe Apple didn't create that solution in house. I'd love for Apple to integrate Astropad functionality and make it as lag free as possible when connected via lightning. Get in there on the system level and optimize the crap out of it.
As small sampling of artists I know, which is in no way an indicator of the markets a whole: windows users in the market for a cintiq are looking at this instead now. Mac users are looking with curiosity, but are mainly unchanged in the platform of their choosing. One of my mac friends said "You'll pry my iPad Pro from my cold dead hands."
But the charging of the apple pencil is still stupid as hell.