You bet's it looks and feels cheaper because there is no way they could sell this new device for that price if they used better materials.
Things I am mostly worried about is how new screen will hold up compared to old one that died or dimmed after few years of usage, and second thing is their bad quickly made firmware that is almost certainly going to be full of bugs.
I am saying this because they had to use completely new secure element and new main microchip, so firmware was probably still in beta stgae, that is why many apps are still missing.