First, I assume we're discussing the HD 6.4 truck engine, not the 6.4-HP used in the cars and SUVs. The truck engine really isn't that old, having been introduced only 6 or 7 years ago. This engine was set up for maximum durability, not maximum power. Considering its application, I believe that's very appropriate. In fact, this particular engine belongs - at least as an option - in every single Pursuit and SSV model (a distinct possibility if they decide to retire the 5.7 engine).
Looking objectively at the situation, it truly appears as though it's Ford and GM trying to play catch-up with Dodge. Not unusual, by any means, but that doesn't mean Dodge should stand still. There's always room for improvement, and I do believe they will continue to invest in the 3G family of engines.