This is much more interesting of a model at $2/$10 (their launch pricing) than at full price. There are many competing models at around this level of performance.
I also like that the difference between low, medium, high, xhigh seems more spread, which is actually a good thing for people trying to tune applications. Running Sonnet 5 on low with the launch pricing makes this potentially a better fit than Haiku or open source models for some tasks. I don't think it will make sense at full price.
Really if they wanted a standout model that would really take the wind out of GLM's sails, they should have made this the new Haiku, priced at Haiku levels with this performance.