Seems to me the mono was a cost cutting design that isn't as quite as good.
The mono thing was possibly cost cutting,but more rationalising.Stuck with a design they wanted to drop,but which a strong customer base wanted to keep,the airhead was modernised in a retro way and brought into line with the K series.Like K model wheels and forks,and the single sided swing arm.So it was just the R80 and the R65 as the smallest BMW.When the F650 arrived,they were able to drop the R65.
Which is better? If you ride both you can decide.The mono is a later model bike....was it a backwards step? I don't think so.Engine wise the 650 was tweaked - down to 48hp from 50,and the torque down to 47.8 Nm from 52.3Nm.But most importantly the rpm max torque was produced was lowered from 6,500rpm to 3,500rpm.I think this was done so the R65 didn't feel like a big bike with a small engine - with such a wide power band it can be ridden just like the R80...and in the real world not much slower.
For my riding on very twisty and often gravel roads the mono suits my needs very well - I can put the power on at 3,500rpm,and it will powerslide out of a loose corner,and spin right up to where I dare not tell.I like the max torque at 3,500,it makes anywhere on tacho the right place to be.