Tbh, Nah. Sounds too good to be true as a deal. My favourite thing about the brand is, “Works for most people, most of the time - MKBHD”. That’s the case even with the flagship model i am using currently.
I’ll pinpoint the issues in your post directly -
Battery. Phone(1) had 4500mah battery with an old processor & samsung wasn’t able to put an extra 600mah in s24 as well, despite having a better display & being a flagship.
Form Factor. The specific form factor that is talked about would incur too much cost for manufacturing, let alone branding & distribution. Its too much to pack in a small space, that’ll definitely increase the pricing, that too on a metal body, as its production cost due to cnc machining which for my understanding i call it “subtractive manufacturing” meaning material is removed to create a desired block, that will raise both constraints - cost & time.
Timing & Current market conditions, ram & storage would be an issue for to correctly target the user space.
When this would work -
When this thing comes out as a limited edition model, having value & scarcity + economies that can support this model to have some traction, where the company can earn some more brownie points & cash flow.
But again, its too much risk for a startup that have investors globally, who would not be easily convinced of a full gas pedal.
What you can target better -
NothingOS. We all know this fact, that its their strongest point, being still in its nacent phase of evolution & getting so many users to earn its recognition & criticism.