I can only compare it to Stable Diffusion. But Imagen2 seems significant more advanced.
Try to do anything with text and SDxl. It's not easy and often messes up. I don't think you can get a clean logo with multiple text areas on sdxl.
Look at the prompt and image of the robin. That is mighty impressive.
dalle 3 gets things right most of the time
You can use Harrlogos XL to produce text with SDXL, although it's mostly limited to short captions and logos. The other way (controlnets) is more involved. (and is actually useful)
I wouldn't say this until we are able to try it for ourselves. As we know, Google is prone to severe cherry picking and deceptive marketing.
Overselling is not a winning strategy, especially when others are shipping genuinely good products.
Every time Google show off something new the first thing people now ask is what part Google faked (or extreme cherry picking).