That is a question, and it depends a lot on which $200 commercial microscope you are looking at.
For somewhere to start: on Amscope, where many get their lenses, $200 gets you a manual binocular microscope with three achromatic lenses and Abbe illumination. Alternatively they offer a monocular digital microscope with three lenses.
Having three lenses on a lens turret makes it easy to change magnification, and manual focus and translation is quick to move around a sample. These microscopes are metal and quite large and heavy, so they are not easy to knock over. A binocular microscope is quick to get going when you want to use it, no need to wait for a computer to boot or to arrange a screen, but you cannot record any images.
The Openflexure microscope is necessarily a digital microscope. $200 gets to the fully motorised version, and probably a better plan-achromatic lens. To start up you need a screen, and the motion is relatively slow. The illumination is wide field and high NA for maximum resolution, but it is not a full Abbe system. With those trade-offs you get complete automated control: autofocus usually only comes with high-spec microscopes, you get that together with automatic scanning of a sample, with focus stacking if you want. In the next software release there will be better automated scanning, detecting where a sample ends and automatically stitching images as it runs. If you are studying changing systems, you can script any time and position series of images. The Openflexure microscope is light and compact (even with a small screen), which can make all the difference for field work. You can have multiple microscopes in a small space to do parallel studies of many samples, run from a single computer.
For a microscope that is more similar to the lower cost commercial digital microscopes, we are developing a much lower cost version using the Logitech C270 webcam and manual motion, which means that there is no Pi, no motors and no motor controller, but it still has the fine position control of the flexure stage.
Finally, the Openflexure design is openly developed and openly licensed. If you want particular features you can work with the community to design them. If you want to locally modify, manufacture, sell and service microscopes that is allowed.
With all of that, how the Openflexure microscope compares to others depends on what you want. For a single, static, user, the direct speed of a manual and non-digital microscope is immersive. If you want to look at something together with anyone else, then digital makes sure that you are both seeing the same thing. The digital image quality can be excellent on the Openflexure microscope. If you make use of automated high resolution microscopy then the Openflexure really comes into its own. For high resolution time lapse you need the autofocus. Scanned and stitched images can be necessary for record keeping or for remote review of specimens.
What are you wanting to do with your microscope?