Before I moved to Europe, I never realized just how ignorant NAers can be. LTE is only a factor in the US, maybe Canada. Pyro is being so unreasonable it's not even funny. Okay, it matters to you. That's fine. But to say this is the end of Google or whatever, give me a break. Admittedly, though, you've been taking back your original, very radical point in your last couple of posts. Smart move.
The price is a big deal. It's off contract. If you're buying a phone and locking yourself into a 2-3 year contract, yeah, no LTE is a big concern. But that's not the case here. Google can reasses next year. And they will. Much easier with cache in the Nexus brand than trying to strong arm today with no power. They can't do that right now. The N4 is a baby step in the war of negotiations.
Show me what brand new phones you can buy for $300 these days. I don't even think you could buy the lowest tier POS phone out there for that price. Hell, an iPhone 4 costs much more.