I think those that compare this to the Echo, Google Home, etc are really missing the mark. Apple isn’t trying to compete with those low end, commodity speakers that sound terrible and are just there to provide some convenience in your kitchen and gobble up your data for advertising/sales purposes.
Apple is competing in the high-end speaker space, against the likes of Sonos, B&O, Bose, etc. And in that regard, they are both price-competitive and doing some interesting things with sound that the others can’t.
I had been eyeing a good AirPlay speaker for years before HomePod was announced. I had been hooking up my AirPort Express to an old hi-fi system, and it was just a huge PITA. I also couldn’t afford to haul it out to California with me when I moved, so it stayed back in NC. This drastically increased my need for a product like HomePod. A high quality, room filling sound that wouldn’t take much space and worked via AirPlay.
I realize I’m probably part of a pretty small market, but I think that’s precisely who the HomePod is for, and Apple isn’t trying to make it an Amazon Echo. To me the whole purpose of a speaker is music, and if it sounds like trash that’s a non-starter. Amazon can keep their Echoes and I’ll keep my data and high quality audio.