Tldr transactions hide amounts and receivers (zero knowledge privacy). Obfuscated senders (can roughly view this as automatic coinjoins). Very cheap to transact (couple of cents) and always will be because of dynamic blocksize (adjusts over time to to be smaller/larger depending on congestion)

FCMP upgrade at the end of the year or so will completely hide senders bringing it in line with amount/receiver privacy, add forward secrecy (quantum computers won't be able to break privacy), transactions chaining (introduce L2s), and outgoing viewkeys (improve cold wallet setups and multisignature wallets)