Yeah, I am a bit disappointed in the limited storage of the N4 with no SD slot, and the sealed battery is a bummer too, I just don't think the phone will work for me. I am also hoping that Google rethinks some of the directions it is going in with the Nexus line.
I do actually agree with their decision to offer it unlocked first though as this requires zero collaboration with the carriers, CDMA carriers want too much control over the phones you can use on their networks. I do think they should offer CDMA versions later if they can, but only as long as the carriers don't force them to compromise anything. Really if you want full control over what phone you use you have to go with GSM, otherwise you will pretty much have to be dependent on what your carrier decides to let you do. This is why I don't like CDMA at all personally.