The only way this seems to make sense is selling to people who really want the stylus but will settle for mediocre everything else, or perhaps there's a slim chance they'll bring the jack back since it's a cheaper model.
But the screen's already a step back on regular Note10(and I reckon they hinged on the target audience largely suffering from presbyopia and won't notice anyway), so they'll have to be cutting back on RAM, SoC, maybe only a single camera but that would seem really stupid as most midrange these days have two cameras.