It looks like Google strategy with its Nexus 7 is paying off. Samsung is expected to announed its Galaxy Note 8.0 with similar specs and similar pricing to Google Nexus 7. Mobile N Apps have a comparison of both tablets in its "ASUS Nexus 7 vs. Samsung Galaxy Note 8.0: The Budget Android Tablets Face Off". Do note that Galaxy Note 8.0 specs are based on existing information, which may change as official announcement was made.
Better camera and bigger memory is in favor of Galaxy Note 8.0 while Android 4.2.1 Jelly Bean is in favor of Google Nexus 7 and will remain Nexus 7 main strength. It will receive faster update of each new Android OS version increment.
It is definitely a good sign for the cheap and good tablet PC market, with the giant Samsung entering the market.