Alan Stafford gives it a favorable review:
It’s not a ground-up overhaul, and it doesn’t incorporate hot new technologies. But these tweaks indicate that Premiere Pro has taken on some of the characteristics of a cloud application, adding features as they are developed, rather than making customers wait for monolithic annual releases.
I’ll be curious to see how this idea of “cloud applications” shakes out in terms of steady updates. Premiere (and the rest of the Creative Cloud suite) is not really in the cloud, but rather a standard download and install that logs into Adobe’s servers to make sure your subscription is paid up. Customers will no longer decide when is the right time to purchase a major upgrade; they’re purchasing it all the time. Hopefully Adobe will make good on their end of the deal.