The new form factor offers convenience at a premium.
Book-style foldable phones feature enough screen real estate to rival compact tablets, and at this point, it's reasonable to wonder if the former should replace the latter. For instance, the latest iPad Mini features a 8.3-inch screen, only 0.3 inches larger than the Pixel 11 Pro Fold and Galaxy Z Fold 8 Ultra. At 7.6 inches, the iPhone Duo is smaller, but the difference is minor.
Most people aren't carrying a compact tablet around, but if a 8-inch device folds down to a typical smartphone size, that's different.
In fact, that convenience is the strongest argument in favor of replacing your tablet. You can use all of the features you normally use on a smartphone and unfold the screen when you prefer a tablet experience. A foldable also simplifies mobile data because most tablets need a second cell plan if you're moving around and need full access to its features.
If you don't have a second plan, you may have to pay extra for a hotspot on your phone.
Granted, foldable phones can connect with most of the same peripherals a tablet can, which makes them capable travel tools for basic work.
The Pixel 11 Pro Fold and Galaxy Z Fold 8 start at premium prices, so combining your phone and tablet into one product can still cost more than buying separate devices, depending on what you need from each.
Foldable phones still come with more compromises than either a standard smartphone or a tablet.