Does it have a better battery life though? If so, how much better is it?
The official ranges displayed on Nintendo's website are 2.5-6.5 hours for the original Switch and 3-7 hours for the Lite. However, Nintendo specifically cites the example of Breath of the Wild (3 hours on the original Switch, 4 hours on the Lite), so the improvement is more substantial than it looks at first glance.
Also, 2.5 years ago the official range was 2.5-6 hours. In light of that and the BotW example, it seems logical that the Lite can actually push above 7 hours in some specific cases, just like the original could go past 6 hours. An additional hour for very demanding games like BotW is a good improvement. For comparison, the original 3DS lasted 3-5 hours and and the 3DS XL 4-6.5 hours, so Switch and Switch Lite are in the same area.