Re: on the up?
Performance-wise, one assumes that this will be as quick as any other Snapdragon 820-based phone, though I note the slides refer to two different clock speeds, 1.8 and 2.1 GHz. The 4GB RAM can't hurt, either - that's all my laptop has, and in five years I've only wanted for more on a couple of occasions.
Apps aren't the only investment people make in iPhones - there are also bits of hardware, either from 3rd parties such as headphones or from Apple like the Apple TV, that don't work as well with Android devices. However, many of my iPhone/iPad using mates use them in conjunction with Chromecasts and Playstations rather than Apple TVs or whatever. So, it's hard to call. The price difference between a Chinese Android phone and an iPhone buys a lot of apps and peripherals.