Pros:
A Chromebook (especially a 2-in-1 like you have) is a very viable alternative to most tablets, including iPads, as well as less expensive laptops. With a real keyboard, large display, and sufficient ports, it offers many of a laptop's advantages without sharing the higher price point. The battery life is likely as advertised, and Chrome OS has gone from being a glorified browser to, in my opinion, a genuine contender. (It is also plausibly the most Mac-like experience I've ever had 'out of the box' without actually using a Mac.) Besides first-class support for so-called "web apps", they seem to run Android apps pretty well (although I confess I haven't tested it out as much as I might have). They also support Linux programs in a container. Outside of Chrome OS, some people have reported success booting in different Linux distros. These are all legitimate and strong advantages that shouldn't be underrated.
Cons:
At this price point, you have to skimp on something, and the processor here relatively suffers. Your smartphone probably has more pep in it than this Chromebook. Of course, even low-end computers are so powerful now that this probably isn't as important as it sounds like it should be, but it does matter to some people with legitimate high-CPU or GPU demands.
I can vouch that local storage and file management are one area here that is more like a mobile device than a laptop. "Files" is good for simple tasks but falters on jobs that would be easy on a Mac or PC, like complex file searches, or copying large numbers of files.
Besides, Google doesn't offer any guarantees about your data's safety when it's local, and
might periodically do something like release an update that wipes your storage. (This also means anything you have in your Linux environment is vulnerable, probably more so than it would be on a device running a mainstream distribution.)