I have used a HyperX Cloud II (the predecessor of this model) for years to my complete satisfaction and when it really needed to be replaced, I considered several options. I read varying reviews on the internet about the quality of this model and I therefore really doubted whether I should go for this model or another gaming headset. I even considered buying the Cloud II again as I have been extremely satisfied with it. Ultimately I went for this model and I must say that after about a week of use it became clear to me that little has actually changed compared to the predecessor. The headset feels a little lighter, but that is by far the only difference I notice in use. I am not an audiophile and I also hear from others that the microphone quality is excellent. Not so much better or worse, but something different than its predecessor.
However, I have discovered one downside that I am less happy with. I use the headset for both my gaming PC and my work laptop connected to a docking station. I use a USB switch for this, so I can easily switch my mouse, keyboard and headset between my PC and work laptop. This always worked fine with the Cloud II, but it does not work (well) with this model. I suspect that this headset uses a bit more power, so the microphone does not work, but the sound does. I still have to buy a solution for this.
I used the Cloud II for years and literally thousands of hours before it developed serious defects (where the sound on one side completely disappeared) and I expect that this will be no different with this model as the build quality is roughly the same.
If I were to look at everything together, I honestly think that you are better off in terms of price-quality if you buy a Cloud II, because the differences in quality are minimal compared to a considerable price difference (at the time of writing approximately four tens).