Your LLs for the day are limited by waiting until your LL scheduled time arrives, or by waiting 2 hours for the next one. And it's also limited that you can't buy more than two IA$s (ILLs) in one day. And it's limited that you can't get more than one LL for any one attraction in a day.
At the beginning of the day, everyone theoretically can start out with 4 LLs (one DG+ picked at 7 AM, one picked at 9 AM, and 2 purchased ILLs).
It used to be that everyone started out with 3 FP+s that they could have picked 30 or 60 days previously. And once people used their 3 FP+s, they can grab another. And when that was used, another.
So... not much different. Except having to pay for it. Which would should make LLs less common than FP+s.