I won't go so far as to say that it even looks better than the Dignis but it does look very good. (The Dignis is gorgeous. I know; I have it.)
It does not appear though that the official case protects the front or back of the M, i.e. it seems to be primarily ornamental. The Dignis offers excellent protection of both front and back but adds a bit of thickness to do so. It depends on what you want.