IPhone XR is affordable
Where the XR and XS look evenly matched
The iPhone XR isn't a handset using "last year's technology" -- the bulk of the key chip and camera specs appear to be identical to the step-up iPhone XS models.
A12 Bionic processor: Maybe they'll benchmark differently, but right now it seems like the XR, XS and XS Max will all have the same processor inside, much as the iPhone 8, 8 Plus and X did last year. Read iPhone XS' industry-first A12 chip gives Apple big advantage over rivals for more info.
Wide angle camera/sensor: The best improvements on the XS cameras had to do with a camera sensor that allows more light, an ISP that's faster, and smart HDR that handles extreme contrasts a lot better and reduces blur. We'll see, but it sounds good.
Face ID: The same Face ID front-facing TrueDepth camera looks like it's on the XR, and should be similarly fast.
iOS 12, wireless charging, dual-SIM capable and more: Most of the other "standard" features of the iPhone XS line are present on the XR -- except for the caveats listed below.
Source: CNET Review