Possible spoiler herein...
Better than the Pianist? Tough call, but yes in many ways. Polanski is definitely better cinematically, but Wayda, from Holland's script, renders human relations more finely. Probably its biggest weakness is the choppiness between plot lines. For me, the Poles definitely lead the way on cinematic treatment of the Holocaust.
Szpilman was aloof, and Korczak fully engaged, and their trajectories diverge. Korczak was a world renowned orphanage director and pediatrician, whose radio show was massively popular among all Poles before the War. This meant he was given every chance to escape safely, and walk away from his hundreds of Jewish orphans in the Jewish ghetto; but, instead, his absolute devotion to giving his orphans some semblance of childhood drove him to "deal with the devil himself." On the other hand he knows that the children will have to deal with death at an early age, and he is committed to giving them appropriate comfort and emotional tools. Perhaps the most humane treatment death and childhood in film. It also points to the conflict in impossible situations between those remain dignified and steadfast to humane ideals and those who resist with violence.
The film could be pedantic, but Wojciech Pszoniak (Korczach) is a toned-down, serious version of Robin Williams (close to Oliver Sacks in Awakenings). This gives a much more honest (and probably more loving) approach to helping children to face hardship than "Life is Beautiful."