there is already a distinction between LCD and OLED... Its in the names. Their trademark "retina display" applies to their IPS LCD panels and has nothing to do with the nature of the display only the pixel density.
They didn't say it was innovative or new I never said they did but calling an LCD display "Liquid Retina Display" is an attempt to cover the fact that it is just an LCD which fall short of 1080p specs available in smartphones since 2010. Its marketing at its best
Yes $200 is cheap for a decent smartphone and its no less capable than an iPhone. But at least you'll get 1080p 18:9 screen and that was the point!