There already is a great virtualisation tool for Windows 10 mobile, two in fact: TeamViewer and Microsoft's Remote Desktop. You set up your home PC for automatic remote access and any app you can't run locally you get your beefy home PC. Many apps will always be better like this, e.g. SketchUp or Adobe. Even if apps like these are one day ported to UWP your phone is never going to have enough power to be used for anything serious. This is effectively what HP is offering to the corporate world.
Continuum is a great concept that really could change how people work.
The problem remains the ongoing car crash that is Microsoft hardware. From abandoning the flagship 'McLaren' just after they bought Nokia to the we-really-can't-be-bothered-to-get-excited Lumia 950, the catalogue of bugs in the Surface Book, the 'no plans' for the Band (which is approaching a 100% return rate), and the too-little-too-late Xbox One S it's just one dreadful failure to execute after another. SadNad needs to get a grip (or be replaced by somebody who actually gives a damn).