It was outdated the moment it was announced: the low battery, the 8Mpx camera in days where we have 13-20Mpx, the weak mono speaker compared to the dual stereo from HTC and Z2, Snapdragon 800 when 805 is just around the corner, 2GB RAM when 3GB will be mainstream this year, etc.
Only thing that will not be outdated is the software. Hardware is already outdated, mainly the battery and camera.
Originally Posted by LaserChicken
Competing hardware won't date this phone, the lack of software support will. Being that this phone is completely unlocked, software development should have a nice long future - - as far as phones go.
That future won't be as long as you think.
Most people won't be able to stay with the Nexus 5 more than 1 or 2 years because of the low battery. Next year most phones will have 3000 minimum, and most Nexus 5 users will leave the Nexus 5 for the 6 or another phone if it has more battery.
Despite having updates and custom roms, nothing matters if the battery isn't enough for the future!