The updated 16GB Nexus 7 is $229. That's a 30% difference.
You're also missing the fact that until this update, the Nexus 7 16GBs were only $199, which is a whopping 40% difference.
My mistake, I looked at the price in the Play Store and looked at the wrong one.
No worries! I completely understand.
Actually, the story says that the 16GB nexus 7 is $229, so the iPad mini is 44% more expensive.
The version of the Nexus 7 I was speaking of is $199 or less (Amazon even has the 32GB for $199 right now). The new version is a little more expensive at $229, but blows the specs of the iPad Mini out of the water.