Competition is good. Similarly priced Redmi Projector 2 (a 3rd gen of this already announced) is what I would consider an almost perfect project (it even has a remote control unlike the Xiaxin 100GT) except for one flaw. The Redmi Projector 2 is unable to render dark scenes.
I hope competition from Lenovo spurs on Xiaomi to develop Redmi projectors with better dark scene abilities.