That's a bit of a misnomer
It's got two MicroSD card slots, each of which can accept up to a 200gb MicroSD card. So the phone comes with 64GB of storage, which isn't bad, but you'll have to spend another $500 on two 200gb MicroSD cards to get to 464gb.
That said, it looks like a solid phone. Waterproof and Qi built in, with a good camera and good battery life...
The battery life is good but at this point 3100mh is more or less the standard on that category of phone. They don't mention quick / turbo charging either I think which is also starting to become more ubiquitous.
The whole "perfect for gaming" aspect was pretty silly. Most people play games on their phones when they are commuting, waiting somewhere in public, or in the bathroom. They could have gone with a "use your phone to watch netflix on your TV" angle or something which probably would have been better.
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Snapdragon 2.5 Ghz processor
$250 per 250GB memory card is high. You can get a 128GB card for $73 right now. 200GB cards are not readily available so they are priced high, but they'll get cheaper as time goes by. You can get to about 300 GB (total, including internal) for $146.
I've never heard of it, looks fancy
Eh, it's running an S5 processor and isn't going to be released till Q4, you're better off buying an S5 and installing cyanogenmod or picking up one of the stock L phones coming out of china.