I think "cheap" is not exactly an objection when it comes to Amp X.
However, it seems to be cast in stone that it'll feature non-endless encoders - and as far as that nonsense goes (there's no justfication for standard 270° encoders in the digital world anymore), I'm defenitely not one of BluGuitars customers, regardless of how great this thing will sound.
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Interestingly enough, even if it might read as an oxymoron: To get as close to analog usability in the programmable world, analog-style pots are completely counterproductive.
"Select something -> perhaps (visually) check current parameter value -> adjust". That's the closest you can get in digital land.
"Select something -> try to find out about the current parameter values in whatever weird ways -> adjust" however is bogus. But it's precisely what you get with analog-style knobs.