I received early access to test this model. (through work — Google still does not like me personally lol)

It works as advertised here, and it does behave like a distilled Nano Banana 2 with respect to certain elements such as good text rendering, which Nano Banana 1 does much worse with. It is definitely not at the level of the base Nano Banana 2 of course particularly with highly-nuanced prompts. My main criticism is that you cannot programmatically force aspect ratios with NB2L but you can with NB2.

That said, the price of $0.034/image is higher than expected since price is generally correlated with generation time, and it takes half the time to generate than a Nano Banana 1 image which costs $0.039/image. Google's assertion that you can directly replace NB1 pipelines with NB2L is fair.

Yesterday, Google announced that the Gemini app will allow free image generations (https://blog.google/innovation-and-ai/products/gemini-app/pe...) but did not specify which model would be used: I suspect it's the main motivation for Nano Banana 2 Lite.