For media consumption, may be AMOLED is better, but for day to day usage, IPS LCD with 90Hz can do wonders. I am in awe with screen on Samsung M12 which is HD+ TFT LCD with 90Hz. Didnt expect it to be that good!! Price vs Benefit of LCD, AMOLED doesnt excite me though.
Lava made a decent attempt, and might be one of cheapest phone wrt offering for months to come. All the best to Lava. But I still wont recommend it to someone just yet. Will wait for the user reviews and may be get a hands on before that