I think they've got the price down by using a fairly average IPS screen running at 60hz, where a lot of the rest of the Vivobook range use lovely, lovely OLED screens. It's using last-gen CPU, RAM and SSD (relatively speaking) but still very capable for most things you'd typically want a laptop for. It's good but I don't look at it and wonder if it's a misprice.
I went with a Zenbook when I was buying just because I caught a deal on a refurb, but I had been looking at a Vivobook just for the OLED screen at the price. The Vivobook obviously isn't as premium feeling as a Zenbook but, again, they're alright: it's not like it's creaking and flexing every time you touch it.
You can get Vivobooks with a slightly smaller 15.6" OLED screen and a newer generation Intel core I5 CPU (that I believe is still slightly outperformed in multi-threaded applications by the ryzen 5 5800H?) with 16gb RAM and 512gb SSD for a little bit more if you shop around and I guess there might be some decent deals around black Friday?