Maybe I read too much into the lore but isn't this precisely what the Xwing was designed to be? A space superiority fighter? A jack of all trades but master of none? It's as fast as a TIE fighter, has better guns, shields, can carry torpedoes, has a hyperdrive, and an astromech. It wasn't meant to be the heaviest bomber nor the most maneuverable duelist, that's what the Y, B, E and Awing were for - specialized planes for specialized roles.
It's the Star Wars equivalent of the F-18. The Navy got rid of the A-6, the EA-6, and the F-14 because the Hornet is flexible enough to do 75% of each plane's role.
