Baitcasters tech isn't advancing very fast, and most of the new features, are just overhyped by the manufacturer to make you buy/upgrade to the newest model. But what Shimano and Daiwa offers that others do not, well, there a lot. Some of it might not mean much to you or somebody else, but to others, it means a lot.
For example. I love the spools intercompatibility that's on offer from Daiwa, especially with reels that use the 34mm spools like the 21 Zillion. I have a lot of custom spools with different lines, and i swap em a lot. How many people do this on here? Probably no more than 5 other posters, but to me its so important that it very well could be a deal breaker. I want the new steez real bad, it looks just like a superior 21 zillion to me, but because they removed the zero adjuster completely, and the reel doesn't support 34mm spools like the 2016 steez tw, i will never buy that reel. This intercompatibility of spools is something that does not exist with any other brands, including Shimano themselves. You could also mention Daiwa gear sets that are far ahead of everything else when it comes to longevity, while also being glassy smooth. Some will tell you that they're all about that T-wing, because they use 16-25lb fluoro a bunch, and the twing helps with thick diameter lines. Personally, i couldn't care less about anything T-wing related, but as i mentioned above, i might not be into it, but others are, and that on its own might very well be that "advancement" they were looking for in a baitcaster.
I also believe that Shimano and Daiwa frames design is so far ahead of all of those Chinese and Korean reels that they're in their own league. And yes, when i spend hundreds of dollars, i care about the looks as much as i care about the reel's performance, palmability, longivity, etc.