Is this actually more powerful hardware than the Nexus 7? I don't get the impression that the CPU is faster. And it while it does have an amp, it does not have

Is this actually more powerful hardware than the Nexus 7? I don't get the impression that the CPU is faster. And it while it does have an amp, it does not have a 7" IPS display with a capacitive touchscreen. If anything, I would expect the Nexus Q to be cheaper to build if they were built in the same quantities.