current diana is a remake with different frame sizes from the original, also an interchangable lens that includes three f-stops and a pinhole option (or 4th f-stop if you leave the lens on). The plastic lens on it has been designed to try to mimic the really crapy lens on the original and does to a bit too well -- it's as a bit of astigmatism along with being a tad soft-focus like.

the holga is just a plastic crapola camera with a plastic lens -- its images are sharp in the center and soften a bit towards the ends and has a bit of vignetting .. i think its images are a bit more pleasing than the new diana.

the new diana also has a telephoto option ...holgas claim to have light leaks as a feature, but i think most of them are internal reflections that I have cured using carefully applied flat black flocking/paint.