One of the most common actions among all computer users, zooming and centering a photo, is easier with a touch screen.
Even adding just that one thing is worth having a touch screen for.
Another example: working in the iOS simulator is now way easier because you can touch your apps that you're developing for iOS and iPadOS. And, by the way, macOS can run iOS/iPadOS apps directly from the App Store, so if there's something you really want to run that you just can't find a macOS equivalent for, there you go, you can just do it and interact with the app more naturally.
The value of “tablet mode” would mainly be if I want to do content consumption, like watch video or read a book, while on the couch or in bed since it allows a wider range of postures you can sit or lay in when you don’t have to rest it on a flat surface.
If you can’t fold it back I just don’t get the appeal.