The Mogwai compliments it's counterpart (the ET) and is also part of the new wave of surf boards that are designed with a very parallel outline. The difference beween the ET and the Mogwai is that the Mogwai is designed with more of a spoon nose instead of the more square nose found on the ET.
The rounder nose on the Mogwai allows it to behave a bit more like a traditional board in that the water entry eases its way in through the rounder outline. The Mogwai will not quite have the drive upwind as the ET, but it is more aesthetically pleasing to the those who are more surf purists.