If I remember right, this has been quietly in the works for years. It aims to be a 1-1 discord replacement.

Screen sharing/streaming, group video channels, voice channels are a priority, some of which completely do not work at all or very limited in stoat (the last I heard about it). I think that is the difference.

A different focus than matrix or stoat which seem more about being a slack alternative first and then voice/video were thrown in later with YMMV results.