Asus sort of missed the boat with the ZenFone 3 line, which took ages to come out in the US and then wasn't very competitive with other devices. The ZenFone 3 Deluxe was priced similarly to the OnePlus 3, but it wasn't as good. Asus isn't pretending the phone never happened, though. This phone is getting an Android 7.0 update, the first wide rollout of Nougat for Asus.
This update is for model number ZS550KL, which is the one you can get on the Asus store in the US. The new version of Android does not support Asus Share Link, a pre-loaded app for sharing files with other devices. The ShakeShake gesture is no longer supported in ZenMotion, either. A number of old live wallpapers have been ditched too.
There are new things in Nougat, of course. You're probably familiar with those. There's split-screen app mode, customizable quick settings, improved Doze Mode, and more. You should find all those in the new ZenFone software, but it will take around a week to roll out to all devices.
Nougat is also rolling out to the ZS570KL model of the Asus ZenFone 3 Deluxe. It also removes Share Link and PC Suite, and improves NFC performance.