The Gen3 that replaced the rock solid Gen2 cost the exact same $500, but had these specific deficiencies:
1. Shorter cord. The Gen3 originally had only an 18 foot cord instead of the 24 foot that the Gen2 had. This was quite a problem for a lot of people. Just in the last few weeks, Tesla has changed that, but it was about a year and a half? two years? that it was worse like that.
2. Lower power. The Gen1 and Gen2 could be installed on up to 100A circuits and provide 80A to the car. Since they replaced it with the Gen3, there was no way to get more than 48A anymore. People with Tesla cars that could take 80 or 72A didn't have any Tesla charging product available that could supply their cars at the full rate anymore.
3. Circuit sharing. The Gen2 had perfect circuit sharing among multiple wall connectors. Tesla switched and put the Gen3 on the market MISSING that key feature!! That was pathetic, and a horrible decision to release such an unfinished product. It was that way for well over a year, without that feature, and again, it was only about a month ago, Tesla finally pushed out a software update that finally implemented it.
4. Build quality/defects. Most of the first couple of years of shipments of these have been defective, reporting or actually experiencing overheating when running at full current, and Tesla has had to warranty replace most of these. For a long time, many of these were being replaced with ones that were still defective and having to be replaced again, because they still didn't have versions that were being built right. It was a fiasco.