Nope.
First of all, there are, and have been, cheap Windows tablets available. A Windows tablet can ONLY "win" in where people want something that is both a tablet and replaces their Windows laptop, they don't choose a Windows tablet as a casual device in the same way they choose an iPad or Android tablet.
Second, an ARM processor doesn't automatically mean all day battery life. Those Surface RT devices certainly didn't. Now imagine having to run an emulation layer for non-ARM native apps (most of them)!
Hats off to Microsoft for going back to the ARM well after it failed so miserably before - it sounds like they solved the biggest block. In the end, though, it's just not going to change things - at least not as far as iPads and Android... FAR more likely to impact existing laptop sales. OEMs are far more likely to continue making the touchscreen laptops they're making now.
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Ehhhhhhhh...... Apple seems pretty intent on maintaining two separate OS. It really depends on how well Microsoft does. Their Continuum strategy sounds cool, but they really only have serious game in the desktop market (laptop/desktop/hybrid) so at the moment there's not really any serious reason to push for integration.
Having said that, if anyone can make a Continuum type strategy work, it's Apple. Microsoft has done a great job making it work with Windows 10 - but the UI is still very much desktop focused. In the coming years, with other devices like Holographic in the works, Microsoft has VERY good cause to fix this and it has the potential to be amazing. Apple could come in and create an adaptive UI that fits the particular device better than what anybody else is doing.