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kotlinlang

Quick question: what benefits does Android Studio provide over IntelliJ for Android development? Am I correct in saying that they are both practically the same?

AS is a customized version of IJ, yes.
If Google adds new Android specific stuff, it might need some time for those to get into the normal IntelliJ version.
On the other hand the IJ version AS is based on is usually behind the latest IJ version.
If you for example currently use the beta-version of the new Android Gradle plugins, those are not yet compatible with latest IntelliJ version but need things that are currently only available in AS.
So both have pros and cons.