I just don’t see where Samsung is going with this. To me, iPhone and Pixel really beautifully fill the market for as phone of this price range.
I'm not a huge fan of this new Samsung release. But it's not because there's already phones in the market. Adding another phone to a particular market is a positive, not a negative.
What I mean is the form factor (thickness and bezels) and the material feel. These points really matter when using a phone. Phones are pretty much there performance wise, now what matters is 'the experience'. That is screen quality, and handling.