The HTC One isn't the greatest comparison because it comes in a Google Play Edition, which is a near-Nexus experience (though outside the US you are still stuck

The HTC One isn't the greatest comparison because it comes in a Google Play Edition, which is a near-Nexus experience (though outside the US you are still stuck with ROM flashing, albeit from a source with solid base and guaranteed up-to-date drivers). Compared to the One, I'd say the major draw is price (and maybe the NFC secure element if you care about that).