The Moto G makes sense at a low price point. Compared to a Note 2 at a similar price (only $30 more), the Note 2 is probably the better value unless you absolutely need a small form factor for active use such as jogging, cycling, gym use, ect. That's the only real edge I can think of for the Moto G.
With the Note 2 you get a larger screen, LTE, a better camera, more internal storage, SD card support, a removable battery, and double the RAM.
The Moto G offers: A slightly more up to date OS (KitKat), and a smaller form factor.