Design
Apple didn’t put much effort into redesigning the new HomePod but still, there are some visible changes upon close inspection. Coming onto the speaker’s touch panel is now slightly recessed like the HomePod mini whereas, in the original version, that panel sits flush with the top rim. When you ask for Siri, lighting for that panel now goes all the way to the edge too. Moving on to the power cord it is now detachable so if you will have any issue with that very necessary component, it will be easier to get a replacement (via Apple Care).
Software and Setup
Even with minimal changes the second-gen HomePod is a better speaker because the second-gen has all the features Apple has been improving in the HomePod mini over time. First, the company added stereo pairing and multi-room audio alongside AirPlay 2 a few months after the launch of the first generation model then there is Multi-user support and audio handoffs which were added in 2019, and the intercom feature which was introduced ahead of the HomePod mini in 2020. And in 2021, HomePod gained the ability to play any TV audio via an Apple TV 4K over eARC and both spatial audio and Apple Music lossless streaming.
Sound Quality
There is not much of a change in sound quality compared to the 1st generation. 2nd generation still, has an emphasis on voice, so things like vocals in music or dialog on a TV show or movie take center attention. At times it’s fine though, with some genres and content, it leads to a rather mediocre experience. The HomePod 2nd generation gives you a great experience while listening to music as it provides ample bass for hip-hop beats and enough low-ends for heavy rhythms.