Build quality on the Dell is good, but from hands-ons, not *as* good. Touchscreen is not something most people want on a laptop, I think (I know a niche loves them, but most people don't), but it's 120 Hz, which is a major advantage over the Neo (and Air for that matter). The touchpad is not as good. The CPU is much slower (at least in bursty tasks). I'll speculate that speakers and battery life are much worse. Connectivity is a wash (faster second USB port, but no headphone jack). The backlit keyboard is nice. The entry price point is $100 higher. Worst of all, it comes with Windows 11.
Of course this is just based on specsheets, very brief hands-on previews, and speculation, we'll need to see what real reviews show.