I'm surprised at all the negativity, the more I read about this the more I like it. Keep in mind that comparing it to the pixel, iPhone and s8 it comes in cheaper, substantially so when compared to the rumored ip8 pricing. Negatives: no oled, no wireless charging, no waterproofing, but hopefully these are first generation issues.
I really like the modular nature of it, they are making the modules so they are not tied to the design of the phone but rather can stay with you when you buy the essential 2 next year, and so on. The 360 degree camera Rubin demoed looks awesome and something I could see myself sticking in my pocket and using it often.
Lastly it is STOCK android, that's a huge plus. Although if you listen to his presentation he does plan on using his own OS someday and Android is just a temporary measure. It's interesting he goes to great lengths to describe how wireless is the future and we need to get rid of any physical connectors, yet the phone doesn't have wireless charging.
Anyway an interesting phone, and personally I'm extremely thankful that we will have more competition, especially directly from google themselves who have to answer for the overpriced and lackluster pixel phones. I can certainly appreciate the essential not having curved edges and what appears to be a more reasonable aspect ratio, and it won't have Apple's function bar, features that IMO are negative. Certainly something to look forward to, but I'll wait for the reviews.
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Android phones all pretty much have ran as fast as iOS for the past few years, especially stock ones like the Pixel. I wonder how much optimization they will do with stock android, if any.
I also really never found a need for the led, especially after getting a smartwatch. The led is just too cryptic to decipher, ok blue led means I have a new email but so what? Do I act upon it, is it important or just spam, do I still have to open my phone to see if I need to act on it? In this arena I think always on display can be much more powerful, but for some reason no one has implemented always on display to display relevant information.