If this question was asked one or two years ago, the answer would probably be yes, but now, it has come to me, as a tech enthusiast, to realize that the spec is not too important anymore
Now, let me explain, if we looked back in 2013 (an awesome year for tech news by the way), we can see that not just big, high end spec phone was getting praised, but also lower end phones, like the Nokia Lumia 520 or the Moto X, the Moto G. And these phones are really good devices, that got a lot of positive reviews. Not to mention a lot of devices today running last year spec like the Lumia 925, 1020. And iPhone, they might not have the highest spec (although since Apple introduced the A7 chip with 64 bit architecture, that is arguable), it’s always a reliable device.
At this point, for those whom had not used these devices, you might ask why we are giving these phone such a high rating even if they are not that impressive spec wise. I’ll break it down to you with a quick review of each phone that I mentioned above. But keep in mind that these are not the only phone that prove spec are not matter anymore
Almost every Windows Phone
You probably saw this coming, I mean, after all, Windows Phone known for their reputation of running smoothly on almost ANY hardware (except for the Ativ S Neo and the HTC XT, because there were some report about lagging and minor bug). If you can bypass the apps issue, you can enjoy Windows Phone with its Live Tiles (Or Metro UI) looks and actually be compelled to use it. For example, the Nokia Lumia 520, it is rocking a Snapdragon S4 Dual Core 1GHz with 512 MB of RAMs, if you think this phone cannot handle day to day use, you are dead wrong because it is capable more than what it’s appear to be. Not only it is a complete task of just being a phone well, it has allowed you to run some apps on it, maybe play a few games if you’re bored. It is just one cheap and reliable device.
(Just a reminder, I count out the Lumia 1520 since it is one of the higher end phone spec wise)
Moto X, Moto G

iPhone(s)
Bottom line
Picture source: Google