Why should Apple compete in this stupid segment?
Because not everyone uses, needs, nor sees the AppleTV as a bigger screen to be a viable/useful solution. Mirroring a screen is garbage on AppleTV vs having a larger screen when/where you actually require it.
When more powerful apps are delivered to utilize the requirement and power of a larger screen with REAL compelling use cases to answer the real question/problem/ask ... THEN Apple will compete.
Apple is FAR too conservative to consider a foldable phone outside of their internal think-tanks. No real full working prototype is build until Apple really considers it and has a working business/retail sales case already aligned.
Alas ... Apple also doesn't like to often show off their most innovative products for sale. Seems to always shoot themselves in the foot:
1. PowerMac G4 Cube (I still love the design and engineering innovative hardware design of this PC)
2. Mac Pro 2013-2018 "Trash Can" (lol ... that knickname says it all. Do I personally want one, yes. but I'm not ever going to pay 2013 retail pricing for it. It's still useful for non real professionals that make their income after taxes on this).
3. Apple Duo (great concept that never evolved and too forward thinking for what the hardware at launch time could deliver on, sadly).
Honestly I can only see the PowerBook G4 Titanium as the real success of Apple showing an innovative product that sold very well: fibre LED backlit keyboard, Ultrawide display with super thin bezels that took Apple close to 12yrs to get to again with the 2016-2018 MBP's.