I just love that we live in a time when a normal-a$$ (non-performance)
pickup truck has nearly 400 HP and we're debating if it's "underpowered"
I remember not
that long ago when the 400 HP V8 M5 and CTS-V were introduced and the same amount of power (in a high performance sedan) was a big deal.
Granted they didn't weigh as much as a Ram 1500 but still....
Good times!
I'm even older...I remember when you had to get a high end sports car if you wanted 300Hp.
Every truck will have it's selling points and issues. It all boils down to what you like and are willing to pay for.
It would be nice to beat a Ferrari while towing a trailer, get 50 mpg, have a HEMI, and have the truck cost $300...but that just isn't going to happen. You're going to have to make some choices which everyone prioritizes differently, which is why you will get a lot of different answers.
I've only had used vehicles up to this point and I researched them to death before I found what was the best vehicle. This is my first new vehicle so I bought what I
wanted since no matter what I got it was going to have a warranty.
No manufacturer is perfect. Do you want to deal with cracked windows or frozen doors? Do you want to deal with a potential 'tick' or front end failures? And the list goes on.
Of course the Ford guys are going to bash the RAM guys, who are all going to bash the GM guys. You can also throw Toyota and Nissan in there too.
I've had a truck in my driveway for 20+ years and they have all been Fords until now. I was certain that I was going to get another one but when I went to drive them they were uninspiring to me. Sure they had get-up-and-go but it felt like I should take the kids to the mall or soccer practice. I took one test drive in the 5th gen RAM and it felt like my old Fords...ready to work and get dirty.
In the end the new RAM had the personality of my old Fords so I switched. Regardless of any potential issues that the truck might have I would not have been happy in any other truck.
To answer the title: yes and no (is the HEMI underpowered):
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Yes if you are looking strictly from a straight-from-the-factory performance standpoint. There is drive-by-wire delay built in so will feel a bit soft off the line and takes a bit to get to the power peak since it's normally aspirated and "only" has an 8-speed transmission (compared to an EcoBoost or a 10-speed transmission). There are things you can do to overcome that (Pedal Commander or equivalent, supercharger, etc.)
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No if you are looking at is the truck powerful enough. 395Hp and 410 lb-ft of torque is nothing to sneeze at. I don't plan on any stoplight races and only compare myself to other vehicles when I'm getting on the freeway (and I usually beat them to the merge

).
It has more than enough power to make me happy and, as has been mentioned, it is not hard to get the TCS light to come on, even in stock form.
Just my .02