Ops.
> Security: Face unlock
Hopefully not the only method.
> Dimensions: 50.6 X 96.6 X 7.4mm
Wonderful.
> Weight: 62.5 grams
More than wonderful.
> GPS Workout: Up to 4 hours and 45 minutes
My old Sony Xperia Compact records GPS all the day long. I used it to record a 8:00 to 20:30 bicycle ride one year ago. Sorry for the Palm.
>OS
You are indeed stuck on 8.1. Android devices all seem to have this problem because Google can't figure out how to let users control the OS, unlike what every other OS developer (even GNU/Linux) has done. You just have to hope you get stuck on a version that is tolerable (or continuously buy new phones?).
>Face Unlock
It is not the only method. You can lock and unlock it like a regular Android device. I've never used face unlock before.
>The size
It's fantastic.
>GPS
It would definitely not last you a 12 hour bikeride.
This has little to do with Google.
One major issue is carriers. Many demanded that they have control over the OS: "certifying" every new major version for every handset, and then installing their own apps. Google needed carriers to push Android, so they allowed these agreements to persist.
On the hardware support side, that's an issue with drivers. Google could and should set standards for drivers, which is a lesson Microsoft learned the hard way with Windows. Finally, Microsoft did set those standards for Vista, and they were rewarded with an explosion of hatred over bad drivers that they didn't write and didn't want to spend money supporting anymore.
At this point, it's mostly up to manufacturers to keep drivers updated. If they won't, then there are communities like LineageOS who try (and sometimes succeed quite well).
Even the Apple Watch has better battery life when used stand a line for a run. Heck my old Garmin GPS watch from 2011 had better battery life.
But my guess is that the target market for Palm doesn't really care about the latest features, they care about gear that works and fits normally in a hand. So probably not a big issue really.
The $280 price tag is a biggest show-stopper IMO (and according to the Palm website that's a "sale" from the $400 price tag, although I never quite trust that). I paid $70 for my basic Android device (Samsung Core A2) and that works just fine as well (with some minor caveats/limitations of Android Go, such as the screen not lighting up when there's a notification).