I don't expect many commentators on Android tech blogs to be blown away by devices like the Moto G. We are most likely not the target market but I also don't see why there should be any disappointment. Were we suddenly expecting a Moto X/HTC One caliber phone for $200-$250?
What I find exciting about the Moto G is the prospect of a cheap, good looking piece of hardware with an optimized Android-experience that does just enough to meet basic smart phone needs. I think the market is massive for majority of normal non-tech people out there who are on a budget with no high end spec needs. Heck, even I'd consider it if it's $100 cheaper than my N5 ... I'd like to think we are very close to a wearable computing experimental stage, where I could "better" spend my premium tech geek allowance on Google Glass/Watches.