The Just Josh Tech review of the MacBook Neo demonstrated that the Neo cannot do a fractional resolution playback of a very simple Adobe Premiere project. We are not even talking about doing any editing work, simply playing back the project in the timeline.
The ~$500 Acer loaded with 16GB of RAM performed much better on that workflow.
I think it's worth pointing out that the base RAM on a MacBook Air was 8GB six years ago.
The Neo is a low end machine that trades RAM, storage, keyboard backlight, I/O and battery capacity for fit and finish and aesthetics.
It is a machine that will introduce many people to the Mac, and it will be very successful, but I also think it is a machine that for many people will not last them a very long time. And who knows, that might have the same negative impact that cheap Windows PCs have had for Microsoft in the long run, which was the whole reason they started their premium Surface brand.