It’s interesting, but actually not in bad faith. LG and Google have been listening to users who are quite satisfied with their new Nexus 5 smartphones, but also to those that see room for improvement. Enter, the speaker grilles for example. LG has increased their size to let out a decibel or so of more sound come out, while the SIM try and the volume rocker have been stiffened slightly to avoid rattling. Minor aesthetic changes to make everything better.
Otherwise, it’s the same Nexus 5 everyone else has.