The old format is good and it is been very good way to determine champions even though the draw do favor some teams.
This new format will be good and any team that emerge to be the winner of either the UEFA Champions League, Europa League or conference league would have followed big strategy that will make them to worth the championship. I think squad depth will actually say a lot in the entire process, but luck will still work on some teams and experience will actually tell a lot in the process. The next season’s Champions League and Europa League will be interesting to watch.
Football is one game that the rules are seasonally changed to further improve the quality of the game so I'm not surprised that UEFA opted to have a new format in the UEFA Champions League and Europa League competitions but if you ask me, I think this particular change wasn't needed. Personally, I feel the old format that was last used last season was better and less complicating to understand how it works unlike the current one but the good thing about the new format that'll be used for the first time by next season is it allows more teams to have the chance of participating in the two European competitions and k think it's a good one for European football.