Apple presumably would sell it with Safari, Photos, Pages, Numbers, and Keynote. Microsoft would port Office or happily sell you Office 365 in a browser. Firefox would be ported. It would run the WhatsApp, Facebook etc iOS apps.
I could like something like that, depending on the hardware. It could be a cross between iPad and MacBook; easier to be productive in than the former, cheaper and longer battery life than the latter.
Relatedly, since MacOS already broke a great number of apps with Catalina (breaking x86 support), they can focus on x64 support only:
https://www.windowscentral.com/microsoft-reportedly-working-...
Apps like photoshop would still get compiled targeting the new architecture to take advantage of the performance benefits, but other apps could run in emulation mode. Then, over say 3-4 years, most commercial and open-source apps would get updated or be replaced by alternatives.
On one hand, it's weird to use a different CPU than other computers. On the other hand I hate x86 and its complexity and its weird hacks, and it's about time someone ditched it. Although they literally just actually completed the transition to x86-64 a few months ago so it's a bit hilarious they're moving away so soon.