At half the price?
It doesn't have a poor camera, it has a very good camera, only not as good as the GS3 or iphone
The GS3 is the only other high end smartphone that has expandable memory, and you don't see that selling at $350.
LTE - well i'm not even going to go into this one
And contract subsidies are slowly falling out of fashion as phone tech stabilizes, more people are interested in prepaid, and operators realize that the subsidy game is making them all collectively lose money to manufacturers.