With that said, I'm glad I have a 256GB SP3, some people were espousing a smaller model because you can store all your data on the OneDrive and then pull down what you need. If this ability is removed they'll be having issues.
Somewhat counter-intuitively, I've read somewhere that placeholders actually create a problem with devices with low storage. If you have a huge amount of content in OneDrive, but a device with little storage (e.g 16-32GB tablet), the placeholders alone could take up your entire local storage and effectively cripple the device. A solution to this is to return to basic selective sync.