The LG V20 is a completely different animal than the G5 which was released earlier this year. Unlike the Galaxy S7 and S7 Edge, the differences are more similar to comparing the smaller S7 and the Note (minus the battery issues of course. The V series LG phones represent a focus on multimedia playback and content creation.
While Apple got rid of the 3.5mm headphone jack, LG is improving the headphone playback on the V20. Google keeps the camera app simple on the Pixel, but LG is expanding on the options available for people to control photo and video creation. Even the microphones get spruced up for better dictation and video recording.
