I've been a loyal Moto customer for years, from an early Droid (yes, I'm on verizon), then to a Moto X 2013 (1st Gen) to a Moto X Pure now (with a short detour to a Samsung Galaxy 2). I was hoping one of the Z's would be my next phone, but too many drawbacks. The biggest negative is the lack of a 3.5mm headphone jack. I usually use a bluetooth headphone, but they run out of battery juice, so I always have a pair of plug in ear buds with me. A dongle adapter is a non-starter for me, another little piece to move from bag to bag, and eventually to lose. Battery life is also paramount for me. I want to reliably get through a whole day without having to carry an external battery, and I don't see a 2600a battery doing that with a 5.5" screen. Motorola's abandonment of a commitment to timely upgrades under Lenovo (my Pure is still on 6.0, not 6.0.1) is also troubling.
This will probably a successful phone because Verizon will push the hell out of it, and if they have a Verizon version available through Motomaker, with color customization and maintain Moto's price advantage over other flagship phones, it will be a hit with mid range Verizon customers. But for bleeding edge power buyers, this will get a big yawn like LG's recent releases.
I think Motorola dropped the ball with this one, but only the market will tell.