There is absolutely nothing (especially not the price, but not dining or amenities either, with the possible exception of the pool) that is in any way "moderate". I can't understand why, even now that the resort is built and we know all the details about it, some people still can't get past the land that the resort sits on having formerly been part of a moderate resort. The theming may not be to everyone's taste and I get that many feel that Disney didn't try hard enough to make it distinct (I think it's a bit bland, but still far more imaginative than Bay Lake Tower), but theming or lack thereof is not indicative of the category of resort. There's a pretty wide range within each of the categories.
For the record, if it were actually a moderate resort, I'd agree with your position.