I think overall, Hornby have there strategy correct. Such a model is likly to be popular by all, so expect to see it in trainsets, railroad and mainstream.
The only tweak I would add, is that for the premium version, they could have used the super detailed A3 tender. I am fairly certain that most people buying the premium version would have stretched the extra tenner for a fully detailed tender too (looking at the posts here). By doing this, when placing it next to a modern A1, A3 or A4, the differences in detail standards would be less obvious.
I would not say we've returned to Triang days, otherwise we'll end up with a Britannia chassis stretched to hold an extra pair of wheels! But the tender body on this model matches the early 90's Hornby A3 (twin tender scotsman style), although its clearly a new tool. The loco body almost to the Merchant Navy standards (I'd say between the early 90s and MN standards).
The same goes for the loco cab interior, but to be honest, you cannot really see inside the cab on this class when it is on a layout (something relatively open like the Star you can...).
Below the running plate, running qualitys and detail quality surpass a 1990s model by a huge margin. They don,t match the detail of the A3 and A4 but they were developed when China was cheaper.
Overall, the cost saving is certainly wise as China is raising prices by huges amounts each year. But giving the premium edition the super detailed A3 tender would have been the icing on the cake for me.