Taking a closer look at how the Hornady swager works, I think it probably would end up being a little faster than the Dillon.
It doesn't look like changing the swaging shell plate and die would take more than a couple of minutes, and once you get going, the only motion is to insert the case once for each pull instead of with the Dillon where you insert a case, and then remove a case, and then insert a case, then remove a case etc..
I have to admit that if I had no swager at all and was needing a good one, I do think I'd have gone with the Hornady over the Dillon mainly because I already have the press it works with and the price is really comparable to the Dillon 600.
All that said, I am totally happy with the Dillon swager, and even though I do have the Hornady L-N-L AP already, I see no compelling reason to change.
I'm just glad to see that Hornady is "all in" the game and actively looking for ways to improve and add new products for reloading.
Competition amongst the leaders of the field benefits us all.