V3's morphs were a lot more complete than V4's right out of the box.  V3's basic morphs are ridiculously versatile.  I can make almost any shaped woman with almost any face using V3.  I can't do that with V4's basic morphs.  More morphs will come out for V4, but frankly, I don't think it's fair to have to spend extra money to get the same versatility the old figure had either.

That's my biggest complaint about V4, it didn't build on the versatility of V3 and instead took a huge step back.  Giving you more posability controls, while taking away morph control is not a step forward.  Being able to pose V4 better, but having it look like the same person in every render doesn't give me something more to work with than V3.

Also one of V3's biggest complaints was that it was shaped like an amazonian super model.  So they make V4 in the shape of a petite super model?  Again... no progress...

V3 has the absolute largest library of products that can be used with it, with a ridiculously large range of genres.  So they release V4 without even so much as a basic clothing clothing pack with shirts, skirts, pants, etc.  V3 was released with that, as have many other figures.  They were so lazy, they didn't even bother converting some of their V3 content for V4, which could have been a workable holdover until artists got their mits on V4.

Maybe V4 will surpass V3, but it doesn't even come close now.  It seems like V4 was rushed out of the shop for Christmas and a month later, they still haven't made up for it.