It looks to me as if Huawei is copying the car industry, e.g. VW has the sub-brands Porsche, Audi, VW, Skoda and Seat, and each model comes in a wide range of variations, the theory being that the buyer will find something in the entire range that they like. They sell in different markets according to whether they are price sensitive, badge sensitive, want more gadgets, want a more sober/aggressive shape, but the approach works.
I don't get the complaint regarding Huawei releasing too many phones or "over-saturating the market". I think more options are always a good thing, as it gives buyers the option of choosing based on what they prefer. Samsung used to do it too. Heck, they still do to a lesser extent, and that's absolutely fine IMO.
As for this phone, It seems pretty decent to me, considering it's price.
I hope a higher end phone with this screen comes out. The camera on 8X, if it's the one from the Mate 20 lite, is disastrous, especially the sensor, gives blotchy artifacts. Also, USB type C (3.1 even) would be good. Also, the bigger battery from the y9 would be nice. Y9 has the 16mpx sensor, but I guess (the specs aren't complete yet) it's the dark f2.2 version. Also old USB. 5GHz wifi band is also missing, according to people that bought it.