I think this is probably right. Right now, cheap tablets can get free full Windows licenses, but there are really draconian limitations in hardware to qualify that are probably preventing them from seriously competing with android and chromebooks. The problem is, Microsoft wants the low-end to use Windows, and they need to give free licenses to make this work, but they don't want to cannibalize sales.

This new version of Windows will probably allow them to eliminate specific hardware requirements entirely, and let users choose between a cheaper, limited version of windows, and paying for a full version.

Unlike RT, this will take basically no extra effort on Microsoft's part, and if these devices catch on it will create some additional incentive for developers to put their applications in the Windows Store. (Since these devices will be x86 based, it will be possible to run existing applications that have been ported to the store using the Desktop App Converter tool).

I don't know if users are really going to like this though.