Well, the original Galaxy Ace is a pretty bad phone. Samsung cut too many corners in that one. The original premise still stands, though. No, the 150€ (we're talking off-contract prices) Android phone is not as good as an iPhone, but 300-400€ Android phones are.
What's more, the 200€ -current, 2013- Android phones are not as powerful as the latest iPhone but can really do the same things albeit a little slower.