Re: So will this be the full Windows that runs on mobile?
That was the disastrous Windows Mobile 8. Mobiles are now powerful enough to run the full OS. Microsoft has a big advantage over Apple in this area in being a software first company. So where Apple would never allow full macOS to run on an iPad, for fear of cannibalising sales in other areas, Microsoft is free to provide a phone or tablet that can be all things to all people*.
* Though they did try and fail with this in the tablet space. Samsung shows the way in this area, with its DEX product.