Fewer microphones, though...
H2 has two sets of stereo mikes (front 90º and back 120º cardioids) that can also record four track for surround (or four mikes into stereo for placement in the middle of an ensemble).
For me, they are a kind of a push... There are extra features unique to both. H4 can overdub (but not punch in and out), H2 has time-stamping (very useful for finding recordings from the past), H4 has XLR and 1/4" inputs, H2 is more compact, just 1/8" mini-jack.
Which one suits you better depends on what you want to do... Me, I've got a DAW at home, so the Zoom is for live capture only, so two track is fine.
An arranger is just a tool. What matters is what you build with it..!