Certainly more reliable, and more bike bling, but pricier, no USB, and only marginally better lighting AIUI. FWIW, I'm saving my pennies for an Edelux ii for my planned long-distance dyno setup; I've seen too many reports of B&M's indifferent build quality online. Though admittedly the lights on my town bike (Eyc and topline plus?) have been fine for about three years, and they stay outside in all weather.
On the topic of B&M production generally
I've got 2 Cyos, a Luxos and an IQ-X
The oldest Cyo (2008?) is still reliable, never gone wrong. The second Cyo has been solid too. These lights have magnetic switches so the insides are completely isolated
The Luxos is a replacement. The first one conked out after about a year, I've detailed this elsewhere on yacf. I always thought it was likely to go wrong because it is so complex ( battery, external switch, light sensing, USB power out ) but this happened rather quicker than I expected. Now on a "mark 2" of the same light which I got under warrantee
The IQ-X has a weirdy feature (or "fault" ) that it doesn't come on immediately but other than that has been reliable. It is very much simpler than the Luxos but doesn't have a magnetic switch
Previously I have had an older B&M light, the IQ Fly and this was prone to intermittent problems in the wet. But it never failed completely.
I have two rear lights, a toplight and a seculite. The Seculite went wrong once during a 400 which was a pita but apart from that ok. The toplight has been fine. I've had seculites since 2007, one was destroyed in a crash
All in all the Cyo is probably the reliable one. I believe this has the same optics as a Edelux