My first car had a 300-400 mile range, because it had a factory option 33 gallon (US) tank and up to 12 mpg. If there was room for a 33 gallon tank on my C-MAX PHEV, I'd have range in line with this announcement; cannonball run in maybe one gas stop here we come; although I don't think the efficiency holds up at cannonball run speeds which are awful close to the c-max maximum speed and recent runs have used 65+ gallon tanks.
IMHO, in reality, anything between 300-600 miles of reliable range is fine for a car that uses readily available liquid fuel. That seems to be where the US market seems to have optimized for in the past few decades.