So you're saying there are no actual use cases in which one would benefit from a device such as the Note, i.e. that it is generally sub-optimal?
I'm saying the OP's question is based on poor assumptions.
I'm also saying that it is difficult to imagine cases where people would benefit from the Note,
if, as the OP specified, one is already committed to carrying around a larger tablet and has no problem with doing so.
Further posters said "well the Note is more portable than the iPad" but if the determining factor is portability, why not take it to its logical conclusion and say "the iPhone is more portable than either of those".
In other words, if one is deciding on portability OR screen size, then yes, the Note is largely sub-optimal. There may be people who find it useful, but that has nothing to do with the OPs confusion. The utility those people find in the Note cannot be predicated on either screen size or mobility
in themselves because those aspects are handled better (optimized) in other devices, as I discussed at length. There are other things such users must value to explain their preferences. The fact that these users such as yourself are legitimately happy with the device is not in question here and never was.