A lot of assumptions are being made, which aren't necessarily true.
It's clear that the D&D designers have always considered a +1 stat boost to be really powerful. Just look at the 3E Epic Level Handbook. You can either get a +1 to strength, or turn all your attacks into vorpal attacks. You can have +1 to intelligence, or the ability to alter reality at a whim with epic spellcasting. In 5E, the power of attribute boosts is slightly more real, because they're so hard to come by, and because the maximums are so low compared to 3E. But either way, I doubt the attitude is going to be, "take a +1 stat boost, or a wimpy little feat." In fact, I know that's not true, because a long list of feats has already been printed. +5 reach, +1d6 on unarmed strikes, dispel magic several times a day, much higher average rolls for a skill, etc. These are significant, and most are better than +1 to an ability score, especially in the low-magic, low-power game that is 5E.
And that leads me to another assumption, which is that a game with less magic and lower power must be a bad game. People seem to be comparing 5E characters to 3E characters, and that comparison just isn't valid. Now maybe you don't want a low-power game, and that's fair, but for what it is, I think 5E looks fairly balanced and fun so far.
I think the Basic version is a good idea, if they can make it work. Beginning players can easily go from level 1-20 with basic characters and have fun. That will take a couple years of real-time, after which they can play an advanced character. Advanced players will only play advanced characters. A character isn't cookie-cutter to you unless you've played a lot of D&D in the past and know what to expect.
Will they be able to address the monster issue? They already have. Monsters don't have feats -- they have special abilities.
And obviously, WotC isn't going to abandon their business model and stop producing splat books. The options will expand dramatically over the years, sating everyone's need for non cookie-cutter characters. Since they're dropping the notion of prestige classes, these might take the form of additional base classes, feats, spells, backgrounds and even alternate rules.