I think most people are missing what is absolutely wrong with the 5C and don't understand why some of us show so much concern.
The 5C is absolutely the opposite of what Jobs would've done. At least in his best years.
Apple line up has always consisted of: High-end product and a lower-spec convenient device.
Remember the iPods?? There was this big HDD iPod, and then different breeds of more portable, cheaper and with less capacity iPod line.
Remember the MacBooks?? A 13" cheaper policarbonate MB and the 15" and 17" high end aluminium.
Along came the MBA being ultraportable and expensive. Somewhere in the line it became the entry price computer replacing the white Macbook.
Then the iPad and the iPad mini. Not only the iPad mini is cheaper, but it serves a different function than the iPad.
Do you see the patron there? The iPhone 5C doesn't fit in.
Basically what Apple is saying is: We will sell you last year scraps, in a new beautifully colored enclosure, costing 84% of the current flagship while offering 50% the computing power. But not only that!! We will give you technology that we just announced we plan on killing in the mid term because we are moving to 64 bit. Furthermore instead of lowering the price of the 5C accordingly to the lowered manufacturing cost, we will rise our margins, because we think everyone is stupid!!
Why does this bother me?? Because I'm not quite sure people is smart enough to not get the 5C. The 5C will kill Apple in the long run if it is successful.
Instead of Apple lowering prices innovating, just like with the MacBook Air. They will go by the numbers, and rise margins by lowering manufacturing complexity, in which in some cases imply lowering quality. If Apple is successful enough, it will infect the high-end devices as well hindering innovations.
Bottom line is. Apple has suffered a biggest shift in its vision, than I thought.
Job's Apple: We will give you the best product in the world. We will innovate like no other company in the globe, but we will charge you accordingly and a bit more to keep on funding innovation.
Cook's Apple: We will try by all means to reduce our manufacturing costs. But we will still sell you expensive, because you know what? We don't sell cheap stuff. Innovation?? The market is all about iteration.
The iPhone 5C is Apple's first product in a DECADE or more, that brings absolutely nothing new to the table. Absolutely nothing!!!!
Quite melodromatic here.
1) On a pure spec basis, the iPhone 5C is much closer to the iPhone 5S than the iPad mini is to the iPad 4 (I say this as an iPad mini owner that sold an iPad 3 due to non use)
2) There may be "50% of the computing power," but as far as running iOS7 and completing the main functions, the phones are basically identical as of now
The phone is just presenting buyers with a new option in a case which has been deemed by basically anyone that has touched it as attractive
And Apple continues to "innovate" as exemplified by the 5S, the Mac Pro, Macbook Retina (I am eagerly waiting the new Macbook Pro 13" Retina), etc. Calm down.