Missing Wi-Fi 6 (which would have been available from Intel) and still using a 720p Facetime camera is disappointing.
720p is disappointing, but they figured increasing the res to 1080p wouldn't automagically improve its image quality. You cannot have near zero bezel AND a big camera bump like the iPhone 11 at the same time, and they don't want a chin cam or a notch either. We can always buy an external camera for those few times when we talk to friends and family. I don't think those big laptops will ever have cameras nearly comparable to smart phones. Yes, they could do a bit better, but not without compromises.
Wi-Fi is a bit disappointing, but it's common for companies to not fix everything in a single iteration. They're also innovating more quickly on the iPhone. You have to balance so many things, heat, performance, battery, deadline, cost. You could mention any arbitrary feature. Why no 120Hz display? Why no OLED? Why no FaceID? Why so expensive? Why so much heat? You could go on and on. There's usually a compromise when you include bleeding edge features, something always has to give. They went for the best balance they could reasonably achieve. Regardless of what they did, someone would always complain.
They had to fix the keyboard, that was absolutely top focus, and they wanted to reduce the bezels as well, to get rid of the old tired design, and that's what they could fit in to this iteration. Maybe next year there'll be FaceID, Wi-Fi 6, 2 years from now OLED, and so on. Someone will always be unhappy, too expensive, too little too late. If you want a Mac, you'll never have as big of a selection as from Windows machines.