The 314's are fine guitars, and a lot of people like their sound as well as their price point. If it works for you, it works. This isn't an arms race, and you need to select the right tool for the job you have at hand.
I know several local musicians who can easily afford higher series Taylor's, but have a 314ce for gigging because that is where the dents and dings usually come from. My 414 fills that role for me, and was mentioned 414's are pretty affordable used too.