BIOS, EFI, WTF. All of these are acronyms I have used when describing this part of the computer to someone in the past. ASUS call it an EFI BIOS, which nomenclature aside is their attempt to deliver the EFI experience. You might have heard EFI used most often in reference to Intel-based Macs.
As I mentioned before, with this being my first ASUS board, I am truly impressed with the interface. It loads into a basic mode, and you have full mouse and keyboard control for navigating the interface. I dislike where they hide the “Factory Defaults” option, and they do not label a separate “Optimized Factory Defaults” and “Safe-Mode Factory Defaults” like on some boards (they are all Optimized on the ASUS), but overall it is a significant improvement over the way we have interacted with the BIOS for decades.