They kept the same d10 dice mechanic that all the Storyteller system games use and most of the setting (there's a few differences but not much), but they've revamped basically all the rest of it.
Combat is designed to better emulate the back and forth battles seen in anime and wuxia films where you try to gain the upper hand before delivering a decisive attack that actually damages your opponent.
Social influence has been more directly tied to the motivations of your character and do a really good job of supporting narrative.
Other systems like crafting and sorcery have improved as well, but those are a bit more niche.
I won't go so far as to say the system is simple. It's still a little complicated especially when you first start, but once you have a good feel for your regularly used combat dice pools, things move a lot more smoothly IMHO. There's still an insane number of Charms and depending on your build it could be pretty crunchy, but a little forethought and organization goes a long way to smoothing over things.