However it seems that instead of being a mere Amazon Echo competitor, Google Home will do what the Echo does but it will be able to take things further. For starters, it will support streaming music from the cloud, as well as being able to stream music to it via Google Cast. It will also be able to stream video also via Google Cast to your television.
For example you could ask “What’s the weather like today?” and then follow up by asking “What about tomorrow?” and Google Assistant will understand you. Early voice assistants used to be unable to understand such queries and would treat each query as a standalone which is admittedly rather inefficient.
Google envisions that with Google Assistant, it will allow families to have “conversations” with Google Home. It will allow users to set alarms, timers, and will also support connected objects in the home like Nest (obviously). Google also expects that in the future Google Home will also support cars and other services, like maybe delivering flowers. This sounds like what Amazon is doing with the Echo by adding new features and services over time.