If their products are crap, who cares how often they release them? But take a look at what they are offering for $300:
Specs: http://www.gsmarena.com/xiaomi_mi_3-5678.php
Design: http://www.gsmarena.com/xiaomi_mi_3-pictures-5678.php
Specs: http://www.gsmarena.com/xiaomi_mi_3-5678.php
Design: http://www.gsmarena.com/xiaomi_mi_3-pictures-5678.php