Sounds somewhat normal based upon the use of an IPS panel and the fact that this is their lower end Nano panel tech that you are getting...
LG NanoCell TVs explained
www.techradar.com
Turning down brightness and going through a calibration will maximize your overall quality, but will still be limited by the panel type in use and the lighting of the display in use.
If this is in a room with a significant amount of viewing, I would likely have gone with a VA type panel (Samsung) with higher native contrast or just gone ahead and dropped the money on an OLED.