I've never played minecraft, so all I can say is that this game is tons prettier than the game I see my niece playing on the 360. There, comparison out of the way.
I really, really enjoy this game, even in its currently raw and unfinished state. The islands you can generate are very pretty, and I like how easy it is to share the seeds of your favorite worlds either for resources or just to share a great set of biomes.
The developers are really involved with the community, which is pretty cool. Steam discussions, bug reports, build challenges and weekly streams, these devs are all over the place.
The item sets are all good looking, and fit well within themselves, and you can make some really impressive stuff, if you want to put the time in. Honestly, being able to visit other people's islands is almost depressing. I was pretty happy with my house until I saw some of the stuff other people were making. :S
I dig this game for what it is, and I'm looking forward to where it goes. Updates aren't super frequent, but when they come, they're hefty, so I'll try to update this after the next one, should be a month and a bit.