All Apple did in that presentation was validate the Nexus 7 as the market leader and a threat. Despite the Apple lover comments that may follow this, the fact that Apple felt required to make a direct comparison of their tablet to the Nexus just validates the Nexus is the real deal. After using one all night last night, I too am convinced the thing is pretty awesome. And with the $25 credit Google gave me, I can get all the apps I use regularly on my iPhone on my Nexus for basically nothing.
As for music, huh, well what do you know, Google has an app that loads onto your Mac and syncs your iTunes music to Google Cloud and if you want your device, so easy.
A third benefit, I used to have a Kindle Fire that I sold, almost all the apps I bought for that, I was able to transfer to the Nexus using the Amazon App Store App.
So other than iTunes tv shows and movies, I am not missing anything over an iPad. Oh and Jelly Bean, is just freaking awesom. It really makes iOS seem bland and boring.
One mans opinion anyway.