I wouldn't call it utterly brilliant. It's a step in the right direction.
It's a small price cut with a digital copy of a game you can't keep playing after a month without paying another 35 pounds.
What would be brilliant is announcing a $349 XBox One at E3 with a cheap USB microphone instead of Kinect 2.0. Keep the voice commands, lose the bloated price for the as of yet useless camera, and offer the full Kinect 2.0 separate with a Kinect game pack in. Giving options is brilliant, staying the course is not.