I recently got a 128 GB SD card for my phone and it's great to finally have as much storage for music as I used to have on my iPod Classic (I use Google Play Music All Access, which allows saving as much as you want to local storage).
[1] http://www.androidcentral.com/why-nexus-devices-have-no-sd-c...
2. Google probably wants to push the idea that any storage beyond local apps should be to the cloud.
(which is comically unviable in Canada, where you're paying $25-50 per 1 GB of mobile data)
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I recently got a Nexus 5 after a long search for a replacement for my stalwart iPhone 3GS. The lack of SD card was the primary sticking point, and caused me days of choice-agony. In the end, price and "cleanliness" (stock android, lack of shitware, doesn't fight software customization very hard) won out.