There's some unique things about it. Usually you get three relegation teams that were genuine Premier League clubs the previous seasons. This year you only have one in Burnley. That gives everyone an almost unique chance of a top two finish. This is making it more interesting as you have the genuine organic financial powerhouses Sunderland and - especially Leeds - able to break through and challenge with their settled squads they've been quietly building. A four team mini league has opened up as a result. The top four look in their own league in terms of both points and quality.
You then have the next league down to say 4 -12th that look much of a muchness. Either the most functional teams that lack quality (pigs, Bristol City, QPR, Millwall) or those that possess the most quality outside the top four (Blackburn, Watford, West Brom, Boro, Coventry).
I think outside of the top half the quality is lower than usual, but the top four is maybe even better. At least more competitive.