The Sony RX10 II essentially takes the Sony RX100 IV's biggest limitation (a lack of zoom) and turns it on it's head. The Sony RX10 II features an f/2.8 lens with an 8.3x optical zoom. That's paired with a 14 fps burst speed, 4K video and slo-mo capabilities. With the 5 cm macro mode, the RX10 II is a very versatile camera.
While the RX10 II offers a solid feature set, it's overpriced. The $1,200 price tag seems a bit much for a camera with a 1" sensor, even with that added zoom. The camera is also a bit heavy, at nearly two pounds. Getting that kind of zoom in a DSLR will cost more, not to mention weigh more, but with the smaller sensor $1,200 is really overkill.
The Sony RX10 II isn't the only advanced compact with zoom, either. The Panasonic FZ1000 offers a 1" sensor and 16x zoom with 4K video--the list price is $900, but since it's a little older it's not uncommon to find it for even less. The Canon G3X offers a 25x zoom with the same size sensor, and while it lacks a viewfinder and 4K, it's priced under $1,000. The Sony RX10 II is a great camera--but that price is a bit too tough to swallow.