I have the Echo. It's okay. Amazon hardware has always been subpar in my opinion. The sound isn't particularly impressive.
I suspect Apple's device will deliver superior sound and integration into the Apple ecosystem.
I will be replacing the Eco with a HomePod when it becomes available. I already subscribe to Apple music, so having a device that will tap into that without having to pair a phone will be awesome. The sound will likely be superior as well.
It's actually very, very simple:
When you're (locked) in the Apple ecosystem, then the HomePod OF COURSE is the only choice you really have.
For people who do not want to lock themselves into the Apple ecosystem, the HomePod simply is no choice at all.
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This is like saying "I bought a kindle fire for $69 and Apple is asking $399 for an iPad. Get lost"
Sure, the Kindle will do everything you need it to do, but one is clearly superior to the other and offers better quality components. Price reflects those differences.
You miss the whole point of the game for Amazon: It's about getting their SERVICES into EVERY home out there - and those services go well beyond music or video streaming. Amazon's strategy is NOT about making huge amounts of money with the device itself -- which traditionally is Apple's ambition. Amazon wants you to order all the products you need for your daily life from them -- through the Echo, the Kindle, their web interface - heck even through your iPad. They actually don't care. They sell these products at a low price to make sure that everybody CAN use Amazon services. Apple is now in the market of producing status symbols for average worker class incomes -- you have to save up some money to buy them (or burn through your credit card), and since their stuff is expensive for regular income people, they feel like they're something special. Apple has always been in that vanity game - and most arguments why people choose Apple fall into exactly that category.
Why the heck would I buy ONE HomePod when I can have SEVEN Echo Dots or TWO Echos for the same price? Beats me. I don't have the first world problem of not knowing what to do with my money -- I have a family, dogs and a house. Naturally, I tend to buy what gives me "the most bang for the buck" - and not just an illusion of it. So I usually do not buy Apple - I'm down to a MacBook Pro as a secondary notebook for work. The Echo Dot with an Anker Sound Core Mini connected to it serves me extremely well in the places where I use it; that combo costs only half of the regular Echo and sounds more than good enough for listening to music during the day. I have hearing aids -- even if I wanted to, I couldn't even pretend to be an "audiophile" (the word alone is just another vanity game; no wonder Apple used it in their product announcements).
The HomePod will be a success for Apple, I have no doubt about that. There is a market for it (which I basically described above). People that are already locked into the Apple ecosystem will buy it -- if they also want to have a smart speaker in their house, like their neighbors with the Echo Dot, that's the only choice they have to say "me too - and mine sounds sooooo much better than yours".
Let's wait until the Echo Show hits the international masses and then let's see what Apple will release in two years down the road to compete with that. And then let's hear the same arguments from everybody again how superior the Apple solution is to what others have already been using FOR YEARS.