Nothing would be wrong if they had not used the word 'flagship'. Sure, it *is* a flagship, compared to the previous 820... But, if you use the word Flagship, people expect something to best the 930, which is impossible for the 830. And you know why?
Because it's a lower tier phone. the moment a 830 would best the 930 in specs, it would only cause confusion amongst the buyers.
So in short - specs are good, the price is perhaps a bit too steep at the moment, and the term affordable 'flagship' was a very bad move.
Flagship means the latest and best hardware there is. and thus people have the right to complain when they see mid-specs on a phone that got called a flagship.
Hopefully Microsoft will stop throwing around fancy words like Apple used to do - we're not blinded by pretty words. Just be modest and honest with your customers.