Funny that you would say that. Many people would rather have a cheaper system with less up-to-date hardware. I’m glad at least some people like you talk sense and see that this is an investment into the future and will pay off in the long run.
In any case, the hardware is rather up-to-date. Given, it is not the newest chipset, but it is a compromise between capabilities and cost. Additionally it is proven technology. What happens to some manufactureres that use the bleeding edge is examplified with the heat issues of Snapdragon 810 phones.
But yes, I agree, the SoC could be newer.