It used to be, but the 1GB RAM is really becoming a bottleneck, especially after the Lollipop update. The rumors are that the 2015 model will also have 1GB, which would be a capital mistake.

Anyway, you can nowadays get an Asus ZenFone 5 with 2GB RAM and 16 GB storage for nearly the same price as a Moto G in Europe.

Of course, no near-vanilla Android ;).