Those are the basics, but there's a bit more to it than that. Compressed photos and videos don't count against your Google storage limits, but uncompressed ones do. You can also do some basic photo editing.
You can sync photos and videos from your phone and/or computer, view them in a timeline organized by date, sort them into albums, and even search the photos themselves.
Google Photos is a photo and video syncing and backup service. There are no photography-specific features, and everything you upload counts against your Google storage limits. You can manually upload photos and videos to it, sort them using folders, and share those folders. But after looking into it, it turns out these services are pretty different. That seems like one too many-at least, it did to me.
Google offers two different apps you can use to upload and share photos: Google Drive and Google Photos.