The game desperately wants to be Requeiem 1e. Part is tied to both Agree and Generation, you begin at the minimum Blood Potency for your Generation, gain a dot every hundred years, and lose a dot if you spend too long in Torpor. Also, despite a couple of boosts (I think all weapons do less damage) vampires are in general weaker more to support human hunters and, via proxy, the Second Insisting as main antagonists.

Oh, last time I checked all Generation did was call you minimum and maximum Blood Potency.

Setting-wise the Camarilla has been reduced from an elite group who claimed dominion over all vampires and did their best to keep vampiric disorder to internal politicking, to an insular sect who requires you to jump through hoops to get in, threw the Anarchs to the Second Inquisition despite being responsible for the Masquerade breach, and shun all modern technology except possibly Cam-approved burner phones. In response three Clans have joined the Anarchs, who have also taken up solve of the Sabbath's nasty hobbies including widespread diablerie. Assamites are more in t Can and their Sorcerers and Viziers have been combined, which is bad news for the note fractured Clan Tremere.

Anarchy Clans are the Brush, the Gangrel, the Settites, and the sparkles.

Also changes to Disciplines (you can choose the power from want at each dot from those at that level or below! But you can only have five powers, max), changes to things like Blood Buffing and healing (make a Rouse Check, get a number of dice for one roll or heal a certain amount of damage), and other mechanical tweaks.

Plus the entire no Sabbat deal, the Beckoning calling elders to the Middle East, the tender being split into four house, the Bloodlines of Death merging with the Giovanni, and other various changes. Don't get me wrong, it's mostly good stuff, but it is two steps to the side compared to late 2e and Revised era Masquerade. In some ways the fluff is back to the themes it has in the earliest days, in other ways it's not.

Oh, and Thin Bloods are now super special values with varying traits and the ability to temporarily pick up Discipline powers by feeding, for no actually explained reason. Hence sparkles. Just give me a 13th generation Caitiff instead.