Is it better than LCD?
While LCD is currently prevalent, and the "Dynamic Contrast Ratios" have increased, it's mostly through ancillary technology advances. Most TV's using LED's switch off or dim sections of LED's in order to increase their contrast ratios.
That sort of programming can't be cheap, or good for the life expectancy ... but I guess it's done now....
LCD with LED back/side lighting isn't the end of the road though.
It's great that Canon is researching alternate technologies.