I can't wrap my head about the difference between the two phrases below. A friend of mine, an U.K. national, told me that both are grammatical, but being not a linguist, she can't explain why.
A context is when someone is telling about having fun last holiday, concluding their speech with a phrase (1). To my understanding, only phrase (2) is correct, while (1) sounds like an awkward contraction.
- If it is not a great holiday, then what is?
- If it is not a great holiday, then what is it?