harder to manage multiple bookings. Lost of "previous" and "next" booking links. In fact, there's no link at all to help you go back. You literally need to click your browser's "back" button, which is in itself a security risk.
Your seat assignment is not at the page that pulls up your booking. You literally need to do an additional step of clicking that particular flight, and then click seats. Since seat assignment is probably the most basic and one of the most used function on the website, I'm surprised they made it harder for a user to change seats and not easier.
Anyway, other people have mentioned other changes and disappointments. Looks like this is indeed a cosmetic change and not a real functionality upgrade.