Initial impressions, very solid build quality, nice clicky foot switches, the expression pedal is very smooth and easy to control. Having two separate outputs that can be configured differently (no cab sim on one, cab sim on another) is a nice touch. All the buttons on the top are very tactile, the two dials on the right have a nice click when rotated and the master dial is very smooth; every single control on this pedal gives off obvious feedback when used, and I wish everything I owned was designed this well. My only issue is that most of the top of the pedal is glossy black, and will turn into a giant smudge, but this applies to most modern electronics - just make it a matte black next time that matches the effects pedal, Mooer.
You can switch to any of the four presets in your current bank by pressing their individual footswitch, or switch to the next/previous bank by pressing A+B/C+D at the same time. I do not see a way to enable/disable individual parts of the effects chain with the footswitches, but you can set up two presets where one has a certain effect turned on (like an overdrive) to work around this in a live environment. There's also a built-in tuner/looper accessed by holding down A+B/C+D, both of which work well.
The actual quality of the sound is excellent. Even listening directly on studio headphones, I'd find it hard to pick between a simulated amp/cab and the real one mic'd up.
In terms of deeper configuration, you can go as low-level as choosing what microphone the cabinet is being recorded with and its position relative to the speaker cone. All of the effects I've checked have as much configuration as the pedals they're based off. The only potential issue I see here is that you cannot stack more than one effect per category, and the FX category contains both wah pedals and compressors, so you're stuck with one or the other. Aside from that, you shouldn't have issues.
Mooer have a piece of software for Windows/Mac called the "GE 150 Pro Editor Software" which allows you to control the entire pedal from a computer, including backup/restoring presets and adding up to 10 custom impulse responses to the cab section. This did not work out of the box for me, and I had to install V1.0.6 first before updating to V1.5.1, which fixed it.
Finally, the "Li" in the title; this is one of the few higher-end multi-effects pedals with an integrated battery, and most of the other ones I can think of are also Mooer units. The battery works as expected, and being able to use this without searching for a power cable is a great quality-of-life feature worth paying the extra for. The original firmware the device came with showed a battery % value, but it only counted in steps of 20%. I updated the firmware to V1.5.0 and this was replaced with a 5 bar battery readout, which isn't any more accurate but no longer annoys me so I'll call it solved.
Overall, the pedal itself is fantastic and only let down slightly by a poor initial setup experience for the software.
If you're looking for a simulated pedalboard where you can individually turn off multiple pedals in your chain at will on stage while performing, buy a Zoom G6 or a Line6 Helix.
If you're fine with anything less than that, with four different presets available with one press and eight more with two presses, this is a fantastic purchase.