Only thing I've seen as an improvement over the iOS methods is that you can just click and immediately drag an icon around. You don't have to make them wiggle first.
That being said, this feature seems really aimed at people transitioning to a Mac from an iOS device. I use it primarily on the first page only as follows.
Launchpad page 1 has all the apps I use but don't want to keep in the dock all the time, so its just quick access. All the apps in the dock or that I never launch go on page 2. This way I still use the dock for everything but for the rare occasions that I want to quickly lunch a lesser used app, I just open launch pad and its there on page 1. I never even flop over to page 2. Much cleaner for me than looking at a stack or folder full of every app.
I know a lot of people saying they used to make an alias folder for apps, I'm just using the first page of launchpad as that alias folder for the apps I still want quick access to but don't necessarily use every day. For this I love launchpad.