MP4 isn't limited in video codec or audio codec either, and it's quite common to have non-H.264 or non-AAC codecs in them. The only difference between MOV and MP4 are a few later created extensions, and the difference in every day use is negligble.
MP4 is an ISO standardized version of where MOV was at the time it was made a standard. MOV is an Apple product that they are free to update as they see fit. Apple has since modified the QT container regarding things like the moov atoms for aspect ratio, color systems (709 vs 609 etc), and all of the other similar fiddly bits. This is the major differences between the two to me.
