It may depend on the TV you have. The raised black issue in Dolby Vision has apparently been 99.9% fixed. This may only be an issue with OLED TV’s though, not sure.
Mine is enroute from BestBuy..I think I will return it, un-opened..I have the model after Gen 1 with the hard drive, works fine with no 4K..I get the 4K thru the LG/TV Apps...
I have a house full of people who hated the prior remote (mostly because they refused to learn the gestures) and they love the new one, so there's something.
I wanted the new remote, so I sold my old Apple TV 4K 32GB for $110 and ordered the new Apple TV 32GB from Costco ($169.99).
I also bought another new Apple TV 4K 64GB for Apple TV-less TV.
As for the differences (other than the remote), they are admittedly limited:
Apps launch more quickly.
Some Apple Arcade games feel more fluid. None feel slower.
Thread for my growing collection of Eve and Nanoleaf smart home products.
TV can output audio (eARC) to HomePods.
I hope that future tvOS and app updates would bring some additional improvements, most notably:
Full HDMI 2.1 support, such as Quick Media Switching. Since my Apple TV is upscaling everything to 4K anyway, QMS should greatly speed up media playback.