The text in the New notifications panel looks so bold and it feels like I'm seeing some huge black text in general. Notifications for some apps like YouTube where it showed little thumbnails on side are replaced by tiny icons of thumbnail. The notifications panel in general feels like it's trying to clump up everything on one place unlike One UI 3.1 which was way smooth and felt good to browse upon.
Compared side by side with One UI 3.1 and yes, I found a really huge difference here. They are just making topics bold for the notifications, which is why I personally don't like it. And the new notification panel doesn't even show which app the notifications are from, whereas the old one showed the app name, and a little details (unread msgs, username) followed by actual notification.