You would be correct in all you take away. For wearing as an active item it does have flaws. I also agree with the flash being taking away to quickly. I had two of them and they were really useful. The hoodie for me is a stationary piece. If I do walk in it its in the teens but so far I have only carried it in and used it as a midlayer. I plan to carry it in and use as an outer in mild days. I don’t believe it would be a choice for me in an active situation.The kangaroo pocket might be handy sometimes, but am I missing something—no zipper at all????
Windstopper does a very good job of keeping wind out and pretty good job of keeping precip out; what it doesn't do a good job of is breathing. I'd definitely want a pretty deep zipper in front.
Also looking at the hood, the two draw cords for the hood (if that's all there is), is not nearly as good as an adjustment on the rear of the hood ie the old Flash, all their rain gear, etc.
I still use my old Flash quite a bit, mostly as a lightweight rain jacket when expecting no to light precip. It's pretty darn nice glassing in windy conditions as well. I think they were a little premature in ditching the Flash.