I may agree with the outcome but not the reasons....
I am an owner of a Lumia, and have been since the phone came out. Its not about the hardware. I prefered the operating system and some of the features.
However, Microsoft removed some of the features that really made it better and different. Rooms, for example- it allowed you to share calendars, pictures, and chat with friends and family- gone.
Then there is the store. Virtual tumbleweed blowing through it. A distinct lack of apps and lack of interest from developers.
I don't think the hardware is the problem. I don't see Windows 10 phone OS as being so different than 8.1 that I want to keep the Lumia.
I want a phone that allows my to use NEST, Sonus etc. I want to go to an exhibition and be able to use their app rather than walk around with a piece of paper in my hand...
I think this is the last chance saloon for Microsoft. Its all about the apps, not the hardware.