(The 5GHz band network's name is that of the 2.4GHz network plus the "-5G" suffix and shares the same password. The router comes with a preset Wi-Fi network with its name and password printed on a label on its bottom for the 2.4GHz band.
Similar to the R6100, the R7000 is very easy to set up. For more options on 802.11ac routers that are also more affordable, check out this list.
Some $20 cheaper, it makes a formidable contender to the Asus counterpart, and it's definitely a much better deal than the new AirPort Extreme for Mac users. Still, at the current price of $200/AU$319, it's a great deal when compared with the similarly configured and recently reviewed Asus RT-AC68U. You'll need a lot of space for it - and a clear wall-socket for its equally large power adapter - and the Web interface and mobile app aren't as useful as they could be. Yet, the biggest caveat here (pun intended) is that the R7000 is the bulkiest Wi-Fi router I've seen. And when coupled with an external storage device, the router is also Time Machine backup-ready.
On top of that, the R7000 also offers a few unique features not available in Netgear home routers before, including a built-in OpenVPN server, the support for Broadcom TurboQAM for a faster Wi-Fi speed cap of up to 600Mbps, and the official support for third-party firmware, such as DD-WRT. It's powered by a dual-core processor that runs at 1GHz, which makes it the fastest 802.11ac router from Netgear and among the fastest on the market.
Indeed, it offers quite a lot for the price.