Hey I totally get it - the sweet spot is in the upper mid range and there are a lot of great choices that are probably more than what most people need.
Also - the two device thing is kind of a silly comparison. The best device is what you have on you at any given time - some people may tote a tablet around 24/7, but I certainly won't. My iPad hasn't really ever let my home.
I actually wholeheartedly agree with most of what you said about the screen quality and such. Sometimes it is worth paying more, but there is a magic price when you just can't justify it and you say no. This number may be different for each person. $300 to $400 more is not worth Samsung's awesome oled screens especially with the downsides of touchwiz beside the price increase.
As anand la shampi used to say on this website,
there are not bad devices, only bad prices.
But in my mind you are flat out wrong on the two devices arguement. If you were talking about the camera in your pocket is the best camera out there. But with the active stylus I think you are just flat out wrong.
Stylus for typing and data entry with alphabet letters suck on a 5.7" screen. You do not use it to enter letters, but instead for the whole new input modality that a pen brings such as drawing diagrams, mind mapping, sketching, art, etc. It is just small and it is not effective at doings its purpose and thus having it on you does not make it useful. If your goal is diagrams, mind mapping, sketching, art, etc you would gladly bring a 2nd device just to have those features.
Compare the screen area of these devices.
Galaxy Note 5, 5.7" 16x9 ratio equals 13.88 inches² $750 to $800 MSRP, 1440p oled
Asus Zenpad SA, 7.85" 04x03 ratio equals 29.58 inches² $300+$30 Stylus, android 2048x1536
Asus T100 Chi Transformer, 10.1" 16x10 ratio equals 45.85 inches² $350+$40 Stylus, windows 1200p includes keyboard
Surface 3 Atom, 10.8" 03x02 ratio equals 54.00 inches² $500+$50 Stylus, keyboard separate, 1920x1280
Surface 3 Core, 12.0" 03x02 ratio equals 66.46 inches² $800 for i3, keyboard seperate 2160x1440
So we are talking 2 to 4 times the drawing area, this is a big deal when taking notes, and dong things like diagrams and mind maps. The note is just too small.
----
Getting the note 5 to take notes is like getting a surface 3 for you want an awesome 3 lb computer for typing so you get the surface 3 with a type cover instead of a real ultrabook.
I agree we need high end phones, but we do not need outrageous prices for what you get. $600 is a much more realistic price than $750 to $800 for the note 5.
----
Note I am using MSRP prices for simplicity and the fact deals do go away. If I really want to I can point out all the time there has been deals on core M convertible laptops, like the Dell Venue 11 pro 10.8" core m for $350 refurb without keyboard and stylus, $500 new with keyboard. Asus T300 Chi with 12.5" 2560x1440p for $550 etc. Spending $800 for the note is just saying you like spending money. Yes it has an awesome screen and a stylus but there are many good 5.5 to 6" phones now unlike lets say 3 years ago with the Note 2 Samsung s3 generation.