Maybe I'm wrong, but I think the Fiesta ST doesn't yet have a price tag and what is expected may be a good 3-4K beyond the max Sonic price tag (plus it will likely be low production and sold MSRP, versus the Sonic which sells below it)..
I'm sure within GM there have been heated discussions regarding where to draw the line. On paper the Sonic already has a "class leading" engine. With that said, ordered by weight (and I think size/room-wise) the US segment goes Fiesta, Sonic, Focus, Cruze.. Comparing the Sonic to an import that comes to mind, it's closer to a Mazda 3 than the Mazda 2.
So, sure it beats the hell out of a Fiesta or Mazda 2 when you throw in the 1.4T, and as far as GM goes it's the same class, but class wise the GM's are larger... Similarly the Cruze seems to be the next size up from a Focus or Mazda 3. On that note, I think the Cruze is under-powered, which is why I chose Sonic..
Anyway I think the Sonic is a great compromise with the 1.4T. It goes good, is comfortable, has lots of options, and gets 40 MPG, at very competitive price tag. That's what most people care about.
Others just care about a cheap car that is decently equipped, looks, and drives OK. That's your 1.8 crowd.
For the rest, and it's probably like 10% of Sonic owners or potential owners, we'd compromise 5 MPG for more engine.. It probably would not be much more $$ to package in a Sonic and would certainly toast the competition, but is further on the side of performance and may not meet the model that sells lots of cars. When they go that route basically an "SS" is born.
For sure though, GM needs either an SS Cruze or Sonic. They need to get their head out of their ass and offer at least one small car that gets at least 30 MPG, which also can do 0-60 in ~7 seconds and a 1/4 mile in ~14, with an MSRP < 25K.
Jon