Having now spent some time with Neo, I'd say Loegria and Neo are quite different. There is some overlap in the strings, but the Neo strings are deeper and more varied. It's also really fun and inspiring playing with the two ensembles.
Neo also has the capability to serve as a small ensemble version of Albion One in a way Loegria never could. Neo can also be quieter (in this respect it's similar to Tundra with legatos for the winds and brass) and you can sketch things with it for the quieter side of the orchestra but Neo can also go reasonably loud but it has the sound of a smaller ensemble, closer to a chamber orchestra where you can hear the details of the individual instruments much more readily. In an earlier post I noted you can also get the sound of a theater orchestra with it. Neo's brass and woodwinds are not as compelling as the strings, and the woodwinds have some real technical problems at the moment—tuning and "bacon fry"—but winds and brass are sufficiently varied to make the same kind of quick broad brush piece for small orchestra that Albion One allows you to do with the full sized orchestra. In that sense Neo's a much better Albion Two than Loegria was.
But Neo is also a chamber sized complement to Tundra. As with the comparison of Neo's strings to Loegria, there is a degree of overlap with Tundra but not just with the strings but in all sections. Tundra is somewhat deeper here (more articulations) but the sensibility of Neo is more toward the chamber orchestra rather than the full orchestra playing softly. I find the shorts in Neo generally more useable than those in Tundra, and all sections in Neo have legato, allowing more lyrical playing, though the brass legato is problematically fractured by the instrumentation—there is no register where I find it sounding great the way Tundra's horneuph sounds great between C2 and G3.
I really wish SF had extended the string low legato up an octave to around G3 to allow for a full tenor (cello) range expression. As it is, the string legatos divide at F#2/G2 meaning you have to either fake this transition or be very selective in your choice of keys. I get around this easily enough by using the SCS cellos, which sit nicely with Neo. Likely any cello legato patch treated with the proper reverb and layered (or not) with one of the string longs from Neo would work fine, but it does mean futzing with another patch when one of the advantages of working with an ensemble library like the Albions is that they allow you to use a minimal number of patches to get the broad strokes of the piece. The long string articulation also sits nicely with the winds legato and you can in a sense borrow the legato from the winds to produce an effective blended lyrical line.
I'll add that the harmonium has a very appealing sound. And the Segla Textures allows you to easily morph between many of the orchestral articulations in the library. I haven’t yet explored the steam band or loops in any detail.