Speaking purely for myself, it's not a big deal. I currently have the HTC One (M7) and rarely use the front facing speakers. in 18 months of ownership probably half a dozen times.
I will still more than likely get this device unless it gets truly terrible reviews.
It's a great device I genuinely have no doubt about it - but just for me I found the 4.7" moto X to be a sweet spot size wise. The new moto X is meant to be pretty much same size as the Galaxy S5, which in comparison with the Moto X when I hold the two of them together I find the Moto X to be vastly more ergonomic and a lot more user & pocket friendly. Likewise the adoption of the 801 is great, but if anything the original Moto X proves that you didn't need those big ass specs to deliver a fast phone, as the video I posted earlier shows side by side with my S5, the current moto X opens apps pretty much identically and actually handles memory better. Therefore to me a jump to 801 doesn't really mean too much.
I would have been happy giving me new enhanced moto assist and display / improve the camera / add SD card slot support and kept it at the same size or certainly no bigger than 5"...
To me now the new Moto X is a great looking device, but it's just cut from the same jib as every other 2014 5-5.2" smartphone - it's missing something special whether that be an ideology / ethos or something else I just don't know. But i just feel somehow disappointed by it. And I do not like the new logo on the back, the subtle dimple was so much nicer.