Let's encrypt is the exact same trust model as conventional CAs selling you a DV certificate. Apart from that, the trust model in the public CA system does not and cannot vary by CA: you trust them all, equally, all the time.
Sorry, I meant the nature of the CA as a public benefits corporation that is more open than conventional CAs. Meaning maybe I personally trust them a bit more than Verisign -- although I haven't decided if I do, and really any CA will betray you rather than go to jail on your behalf.
Their certs are indeed the same DV type as always.
Their certs are indeed the same DV type as always.