Tbh, it's a different philosophy for taking notes. There is overlap in features, but also a lot of differences.

In obsidian, everything is file based, you manage the folder system, and you primarily link files together.

In logseq, it's more based around blocks which are indented portions of the content. You can still make files and link to the file itself rather than a block, but a lot of your notes will be on your journal pages and link to other blocks/days/content/tags, etc. I prefer logseq to obsidian, but it's a very different file setup type than normal since you normally don't worry about individual files and keeping track of them, you can just link to the content later. You can still make separate files though, and they work well. The focus is just on blocks rather than files

Both have note linking and embedding (logseqs is better imo), graph view, searching, plugins, themes, etc. I'd say they're on par in terms of features, it's just whichever notes system you prefer and work better with tbh