Personally I think the SE is a great idea.
I'm sure there's a bigger market for the SE than there was for the 5C and I'm sure there are people out there who aren't upgrading from the 5S due to the increase in size of the 6.
I just cringe at these Keynote's and the hype that goes along with the...
Nothing to see here then, apart from an iPhone 6s in the body of an iPhone 5. Which I imagine will appeal to a very small number of potential customers.
Roll on September then, I guess.