Next.js is a React framework that allows building universal apps that work on both client and server. It addresses issues with SEO, performance, and code splitting in single-page apps. Next.js provides out-of-the-box features like server-side rendering, automatic code splitting, optimized builds, and more. It has a simple project structure where pages are individual React components and routing is file-based. While routing can be customized, the default routing only supports route paths that resolve to page files. Overall, Next.js streamlines universal React apps with its features and optimizations.