I don't understand, how is it better than the Leaf which gets better range than 124 miles now?

It's a different market; it's a sporty RWD subcompact car with amazing design aesthetic. North Americans love huge vehicles and don't "get" this market which is why we have almost no cars sold in this segment anymore. But in European and Asian cities a small vehicle like this makes a huge amount of sense, and they sell very well.

It's maybe more competition for the Kia Soul EV than anything else, but this is sportier and much nicer looking.

Borrows the design language of the classic Honda Civic, which is nice, as all of Honda's current cars look terrible.

I'm not usually a fan of Honda and up until recently they were openly hostile to electrification, but this vehicle is really nice.

Kei cars are small (unless I'm gravely mistaken), while Leaf isn't that kind of small.