FS Seychelles is totally different than Fregate. If someone were comparing the service and rooms I think that they'd be missing the point, which is that one is a villa on a private wildlife reserve and the other is a large chain.
In speaking with several of the large Seychelles wholesalers I consistently heard that Maia was better than the FS, and PaulJeff provided an excellent comparison and may be the only person to have done both and actually experience Fregate.