Try scrolling a list of 500+ songs. It totally chokes on that and a lot more normal functions under iOS 6. Perfectly smooth under iOS 5.x, though. Not just my experience, I have seen three other iPhone 4's (not 4S) in my office brought to their knees after the iOS 6 upgrade.
As a very basic smartphone, it may be OK, but there are a lot of better choices at the same price (free, where ATT is concerned). On the other hand an iPhone 4 running 5.x iOS is still a great phone.
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So long as you continue to run 5.x, I would agree.
I just opened Music on my iPhone 4 32gb and scrolled through the songs tab without it slowing at all and I have 27gb worth of Music. I'm also a member of iTunes Match so maybe you mean songs on the device?
Anyways, I don't think it's stupid at all. I bought a unlocked iPhone 4 and am currently using it on a prepaid as you go network because I hate contracts and can always change phones. Unlimited everything for 45 bucks and haven't lost signal yet or had any troubles.
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