The Mobile version of the game is getting the 1.3 update which adds a lot of content compared to what is in Mobile currently. Right now the Mobile version of the game is equivalent to what the 1.2.4.1 update for the PC was in terms of content and Quality of Life. Other current generation platforms already have the 1.3 update.
Examples of content in the upcoming update will include a grapple hook slot, Underground desert, Granite/Marble biomes all with new enemies, along with more weapons, accessories, and music overall, ontop of an endgame event and final boss following it. Before 1.3 Terraria did not officially have any form of a final boss. It will be a very exciting experience!