The main downside for me with lotus is the fact they are stripped out. I like the early late 2000 BMW M feel of relative comfort but driver focus and they can be really enjoyable to drive with big enough boots.
Having a car that is hard to use as a car is a bit pointless to me as I wouldn't really buy a second car for track purposes.The Emira is much more like a modern Z4 but one that you can do a euro trip in with a bit of comfort and use as a dual purpose weekend car that still has some pedigree.
Although the G29 and E89 are nice to look at and have healthy engines they just don't do it from a driving dynamic point of view. The Cayman and Boxster are fab cars but they don't have the murderous feel of the Z4M that I like. They lull you into a false sense of security that your a driving god because there is very little you can do wrong in them... which I find has the opposite effect of making the experience very dull.
The 911 on the other hand is the opposite def has the murderous Z4M feel in a much more rounded package but obviously the Porsche market in the last 5 years has gone mad. To change from the Z to a 997.2 or a 991 your looking at 50-60k so really another 45k for a 10-12 year old car that will need money spent to keep in the condition it deserves.
Probably a reason there are a lot of long term Z4M owners because there isnt really a replacement that fills the niche. The Z3M and Z4M were sideline projects but the M division in low production numbers because of said niche and although the Emira is a big production for Lotus its probably on a similar scale to the Z4M which should make it special enough for people to get into.
A proper car that can play in this segment is needed and this might just be it. The TT although quick just does nothing for me, the F type is too heavy and not that quick, the lotus offerings are too stripped out. There isnt really a lot that has a different recipe everything is a bit bland to me. Others have got inflated - 992, GT4 I don't think isnt that great bang for buck but a fab car, M2 is nice but different proposition, M3/4 lost the plot on styling and the cost £85k for an m3 must me mad etc etc
The fact its British is another big plus.