I don't know about the 'new formula' stuff in other countries, but here in the UK, there was a definite and distinct change to the product, and the bottle.
The 'old' stuff was crystal clear, and in a clear bottle, and even with one coat, gave a gloss finish.
The 'new' stuff is like milk, and in a white, opaque bottle. Although it's possible to get a gloss finish, it takes at least three coats to do so, and this finish remains relatively 'soft', with an uneven, waxy appearance.
I have actually managed to use it as a gloss clear coat, but after a disasterous experience after mixing it with Tamiya Flat Base, to make a matt varnish as I had for years with the 'old' formula, I stopped using it.
It also has a 'perfumed' smell to it and, after the bottle has been opened a few times, it takes on a brownish tinge.
It does, however, still perform reasonably well for 'dipping' clear parts, but my bottle has been consigned to the large round filing cabinet which is emptied weekly ...........