The Smith looks like a cheap(ish) copy of a Ruger.
AFAIK the Smith is not a "copy" of the Ruger in any substantial respect other than its general design – i.e. it's a SAO pistol with an internal bolt, internal hammer, thumb safety, and ejection port on only one side.
Notably, the Smith's barreled receiver attaches to the frame with a screw, and the takedown procedure is significantly simpler as a consequence of this. The Victory also uses a cast frame rather than a stamped-and-welded frame, and the barrel can be separated from the receiver by removing another internal screw, so you can swap barrels without swapping the entire "upper" (and executing a Form 4473).
Although I don't know precisely how the S&W trigger functions compared to a Ruger, I've dry-fired a Victory and was quite impressed. It had some mushy takeup that my MkII lacks, and there was a little more overtravel, but the actual break was lighter and crisper. (My MkII trigger is stock.)
IMHO the SW22 Victory has the potential to be a decent competitor to the Ruger and Buckmark unless some serious reliability or durability flaws begin to surface; it doesn't look and feel chintzy like the discontinued 22A series did (also IMHO of course), and its design is more conventional.
All that being said, my next .22LR pistol purchase is going to be another MkII, but with a bull or slab-side barrel and adjustable sights this time.