I think that if you hold the HTC One in one hand, and the S4 in the other, and don't think that the S4 feels cheap, you are trying to convince yourself otherwise inside your mind.
Go hold three pieces of plastic glued together in one hand, and go hold a single block of anodized aluminum in the other. Tell me which feels cheaper.
Keep in mind that I own a Galaxy S3 currently, as well as an HTC Evo (I work for telecomm). I am not being a hater or troll, but honestly, it feels cheap and that is simply the truth.
However, what I will say is that it is a very nice size and the shape of the phone makes it feel much more premium than the Galaxy S III ever did. But when you compare to HTC One.... there is no comparison. It makes the Galaxy S 4 look like it came (almost) from the dollar store. Even so, I think people will like the fact that it is so lightweight. Because of the weight and shape, people will like it. Is the HTC One for everyone? No. Is the S4 for everyone? No. But I honestly don't think there is anyone in this planet that can say that when you compare the two phones, that the S4 doesn't feel cheap. Because it does.