iPhone dud?

This piece states that fewer iPhones were sold than forecast, which sent Apple and AT&T stocks lower.

It may be still to early to say, but perhaps, for all its wizardry, the iPhone is still not good enough as a phone to convince people to switch. I've always contended that cell phones need to be cell phones first, which means focusing on 1) reception and 2) voice quality. I did not see much in the iPhone's marketing material about 2), and AT&T is not known for 1).

If the iPhone does dissappoint, I'm sure that tech pundits will say it's because it's a closed platform, without any third party applications. I think the real reason will be that it's missing some core phone basics, and because it's too expensive for something as fragile and losable as a cell phone.