They've moved away from how constrained class choices were, they've largely moved away from stat minuses (for core races; I suspect these will be gone for others eventually, too), and they've removed age categories having an impact on stats. Things have changed rather a lot since 2e. The races are much more alike now than they once were. I don't doubt for one second they will take this further in subsequent books and editions if it plays well.
They aren't going to errata the 5e books; but they might release a 5.5e.
Which is fine; 5e will still be there for the people that want it.
So long as "Orc Smash!" is part of the baked-in traits for the race and Drow society is evil in one of the flagship settings, people have an argument to make. I suspect they will make that argument; and ultimately sales will tell the tale.
I suspect these tweaks are nowhere near done, and that they will be highly central to new DnD products.