Not only that, but the only thing it would give us that we don't already have is lock screen widgets. The other updates have been delivered by Google Search and GMail updates.
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Also Daydream, and as mentioned before, photosphere. Although there's no telling whether or nor that would come to other devices outside of the Nexus line. Also I'm sure there are a few under the hood changes and fixes as well. But as far as features goes, I don't feel like we're missing out on much.
I forgot about Photosphere. I wonder whether the OEM will take the effort to add it to their camera software or if Google will keep it closed like the GMail app and prevent the opportunity unless the OEM delivers the stock Android camera.
6-8 months seems to be standard for VZW releasing updates, with a few exceptions. Chance of getting another update after that....unlikely. They could keep updating it but they'd rather sell new phones instead, which will leave us rooting and hunting XDA for new ROMS to get an update.