Personally, I think it's soft for a non-merino wool. My daughters have sweaters made from 220 superwash (thanks, mom!), and they never complain of itchiness. My neice has a matching one, and she is really, really sensitive to wool, and hasn't complained either. :shrug: They've held up really well too.
That said...my older DD also has a sweater made from Swish (the KintPicks superwash) and it's also very nice -- and much cheaper!