They are dropping the amount of RAM from 2GB (current generation) to 1GB (next generation)? That doesn't make sense.
Did you look at the pricing?

These have upgraded CPUs and displays over previous models, and they're really cheap. I suppose something had to give. I think they discovered that with the smaller (and cheaper) tablets, people don't generally take heavy advantage of multitasking. So most users only really need RAM dedicated to whatever is on the screen, and when the OS runs out of memory it can suspend background apps.
With that being said, if I personally was to get a device like this, I'd want 2GB of memory. So I think if they're smart they'll at least have a slightly more expensive upgraded model with more memory. Of course, I'd rather have a 10"+ model, myself. If you demand more performance and plan on multitasking, you might be in the market for a bigger unit, so maybe this makes sense.
Anyway, these could even run Windows 8.1 decently with the new compressed builds. But more internal storage and memory would be better, hence the Pro models. Hopefully they'll upgrade their Pro lineup with the new displays too!
Oh, I just looked and Dell is listing the previous gen Venue 8 with a 32GB option for $30 more than the base 16GB model. So hopefully they'll have a similar upgraded model with 32GB for ~$229. Although the mSD support helps a lot, the internal memory will likely be faster for loading big apps.