Given how long a home hub with a screen has been rumored without appearing, it's very much in the "I'll believe it when I see it" category, but IF this hypothetical device could be used for FaceTime it would be a genuinely useful replacement for an iPad for "phone duty" with an elderly relative.
We have for many years had an iPad at the parents' house, and they (being VERY old and about tech savvy enough to manage changing the channel on the TV) learned just enough to understand how to swipe to answer a call. Living in another country that's been a massive quality-of-life improvement; instead of a short, overpriced phone call (which at this point would mostly consist of "WHAT?!" because of hearing loss), you get a leisurely conversation, some actual time looking at another person's face, and the ability to hear the conversation because the iPad can automatically connect to a hearing aid.
But in this setup the iPad is just a glorified video phone, and having to set it up on a table to talk is more work than an able-bodied person with a smoothly-operating brain would expect. So something that just sits there on a table, can be a video phone, and doesn't do a bunch of unnecessary stuff would be an improvement.