Video Editing on Android

OK so the one thing holding me back from getting the Nexus 5 instead of the iPhone is Video making on Android. Is there an app on Android that compares tot he new iMovie?

Please show me some links!!!!!

Why is this not more of a topic in the tech world? People have made full-on movies with the iPhone, yet every app I see on the Playstore looks like a toy... Am I missing somthing, is there a stock app in KitKat I don't know about?