I was in the market for a phone at that time. Google then dropped the price of the Nexus 4 to $200 (8GB storage) and $250 (16GB). That was way too good a deal for me to pass up.
Well that's life I guess.
I could maybe have held off and gotten a Nexus 5, but it wasn't clear how much it was going to sell for, or exactly when. I had previously tried out a N4, and found it acceptable (other than the lack of a physical keyboard), so I just went for it. No regrets.