I guess there's not much beyond "experience" than any Google Experience phone can offer, plus a few gimmicks. The always on voice is a total gimmick to me. I never used that on my S4, and I used some of its other gimmicky features for fun. I'm all for "AI" assistants, but Google Now and such are still waay too basic and imperfect for me to be even remotely useful.
Also, there's no LED light, only the screen is supposed to light up on notifications. To me it's kinda meh, since I rely on LED now and I wouldn't notice the screen turning on for a moment.
The phone's shape is kinda unpractical - it's probably going to rock sideways while lying on flat surfaces. Also it makes it less pocketable and less cool when lying around. The back design looks great, front looks uninspiring because of the upper part looking old. Also the front looks kinda unfinished.
The way I see it though, it's a mid-ranger with a display and camera that appear to be ahead of the mid-range league. The processor is adequate.. for mid range. For now it shouldn't lag and it should be relatively snappy for a while. I'm almost totally sure that they aimed to offer the best value for money phone. It could be the Nexus 7 of phones. If that's what they were after, and manage to keep the price around the 200$ mark, they might have a winner. I see no reason why they couldn't do it - they're selling the N4 for 299$, most of that goes to LG, and it's built around higher tech components despite being a year old.
Also, the Chinese make "global" Snapdragon 600 phones for 150$ now (Basic Bear).