If you actually use this phone in the real world, it will be glitching like an old school Nintendo game when dust, dirt and corrosion get between the contacts of all the "modular" components.
Honestly, every time I've ever purchased a newer mobile device, the old one seemed to have become equally deficient across all its specs - RAM, flash storage, screen size/quality, and camera resolution/quality. I've never once thought "Gee, it's awesome to be rocking Ice Cream Sandwich, a 480x800 3.7" display, 512MB RAM, a 1GHz single core CPU, and 8GB of flash, but man - this 8MP camera sure is killin' me!"
Sure, repairability is a nice feature, but it's not difficult to replace the display assembly on a modern iPhone (I've done it myself, and it takes less than 5 minutes if you've got the proper tools). You're likely looking at an entire replacement phone anyway if you've killed the motherboard (example: water damage), or smashed the housing up too badly (fell in a blender, 50' drop, etc.)
Spec wise, this seems similar to the unlocked Blu phones Best Buy sells. If you're not making a "flagship killer", you're caught in a very competitive race to the bottom. I get that this is supposed to be better for the Earth or conflict regions where rare earths are mined, but there's got to be a way to ease your conscience without such pathetic hardware specs.