The problem with the iPhone SE is that, despite the modern processor, this is not a modern phone.
I got an iPhone SE and after using it for a bit then its very clear that the iPhone SE is a placeholder device that is due for an upgrade even before it was released. Yes, it has the speed to compete but not the features. No 3D Touch, Outdated Screen, Missing Cellular Bands, Slower Touch ID and a "classic" (outdated) design make it a tough purchase because this is a phone that should be ready to replace but Apple may have no intention to ever replace it.
I like having an SE as a backup device but I just wish Apple put some effort into creating a modern 4" iPhone rather than cobbling together old stuff and still selling it for a premium price.