You cannot expect an ultracompact to have everything - I mean, they are made the smallest possible, so of course they cannot compare with the full-sized, full-featured models by far ^_^ I would not stress out about the padding, more about the not-too-large wheels so not too much all-terrain ride. I mean, you can always put in a universal seat liner (like an Elodie Details or any other similar pad) to add to the padding.
I do think the buggy is simple, so I would not expect crazy much of it - especially when wanting a reversible morel that fits the overhead compartment. I think it is good for what it is but has its downsides which are logical for the size. So yeah, I mean, I'd get it if I needed a reversible ultra-compact. But I actually would not go for a reversible with a toddler, rather would go for a more spacious world-facing one. This is of course highly subjective and you know why you need that.