The thing is this mid priced phone does compete with the flagships, with almost half the price.
I'd say it kinda completes which is good enough for most people, and considering the price tag, it'll always get concessions allowed.
But, for me, no fingerprint scanner is a clear sign (or not) of a flagship these days. I'd take something I use every time I pick up the phone ahead of those speakers any day.
I'd also be expecting OIS and a more premium build that is mostly metal and/or glass (wood just doesn't cut it). The jury is still out on the battery and camera, too.
But, as I said above, it does most things that most people need so should sell well. However, even if they keep with plastic or wood and forego OIS next year, I'm sure ignoring the fingerprint scanner again would be a bad, bad move. Trouble is, they'd have to lose the speaker, have a monster chin, or shove it on the back so you have to always pick it up (really bad move... Hello Nexus).
I'm inclined to agree with AppleRobert in that after trying wannabe flagships and being 80-90% satisfied, I'd rather pay up to get the big dogs and not be wishing down the line.