Lets create the PineCom

[bard]

I like the idea, like a freedom-flavored iPod Touch. It could be a good device for kids to tinker with and learn on. With that in mind, I would think maintaining a price point cheaper than the PinePhone would be the most important thing.
I think a rear-facing camera is not necessary, but could be useful for projects, like setting it up to do a timelapse or stream video or whatever else. It's harder to justify a front-facing camera.

A small screen would be good. I often hear people complain about how phones all got too big. Something to compete with the Xperia Z Compact phones or the iPhone SE in size would be good.

If the cameras were removed, it might mean the space could go to other components. Perhaps things unique to the PineCom. Some people have modded their Eee PC 900 laptop to have something in place of the webcam. (I believe it worked over USB, so then they can put another arbitrary USB device there). I'm guessing the camera hookups aren't as inherently modular on the PinePhone.

I'll second what someone suggested in an earlier post, add an IR blaster. These things are very cool and unfortunately haven't been on phones in a while now except for some of the Chinese options. It would quickly turn the PineCom into a programmable universal remote, which is very handy.

As for the WLAN/BT upgrade, I would say it all depends on if you can get free drivers. I know there are some wireless AC chipsets from Realtek with free software drivers, but I think Bluetooth 5 may be more complicated. Keep the hardware as free as possible, but aside from that, faster WiFi does sound like a nice thing.

You say the alt mode for video will be removed, but will USB OTG functionality still be there? Plugging in a keyboard, mouse, flash drive, USB ethernet adapter, or other device is something I would consider useful and important.