The Lite 2 is a huge upgrade compared to the 1 and I will explain the reasons below. I believe that with the Lite series, 8bitdo has found the perfect balance between portability and functionality. The Zero, for example, which I also have, is ridiculously small, which makes it almost useless. The Lite 2 pleasantly surprised me with how convenient it is despite its small size. It fits perfectly in my hand (at least mine), you can play demanding games, and its construction feels very high-quality with excellent matte plastic. It connects instantly via Bluetooth to whatever you want, from Android to PC. It fits in any pocket and is lightweight, while its battery lasts 15-18 hours, which is exceptional for its size.
Now, regarding the buttons, having had the Lite 1 for a while and being disappointed by how little "travel" and poor sensation it had, I expected something similar with this one. However, 8bitdo has done an excellent job here. The depth of the buttons is perfect and they provide very good clicky feedback, which I did not expect for such a small controller. The D-pad is also greatly improved. Positive changes are the buttons on the back and the triggers, which are much more convenient, as well as the addition of analog sticks. Okay, the analog sticks are very close together, but they do their job without compromising the device's portability. The only downside is the price, which I consider quite high, but it is essentially the best (so) portable option available.