Sorry Mr Piper, you will have to do better than that.
Piper are just utilising the engine that's available. Don't blame them for Continentals engine.
A TBO of 1200hrs isn't particularly impressive
If I recall correctly, this is a TBO that Theilert started with. The intention was to increase the TBO as engines approached that time in service. However, by then Theilert was in trouble and it didn't happen. I think I recall press statements by Continental that they will increase the TBO. By the time Piper launches the aircraft in 12 - 18 months things could be different.
155 hp is only 114 kilowatts, not an overly powerful engine
Its the torque that counts. Conventional avgas aircraft engines don't make impressive power either, but the specific torque of Continental / Lycoming engines is quite impressive. Look at the specific torque instead.