Global access for an additional 33 countries Player Level cap increased to 80 Photon Art and Technique Levels increased to 17 New Skills available from Player Level 76 to 80 Introduction of PvP in the BATTLE ARENA New PSO2 Friend List, separate from Xbox Live Friend List Character slot maximums have increased to 20 New ARKS Missions Universal Ship for Battle Arena and Challenge Quests BONUS Quests for huge amounts of EXP, Meseta, and material items! New Seasonal Events New Alliance Quarters, including Tokyo, Battleship, and Lunar Surface Characters from the Anime series of Phantasy Star Online 2 will appear on the Ship, and can join your party after completing specific Client Orders! Exciting new Titles to earn New enemy types to challenge New quest types New areas to explore Preview your purchases in the Fresh Finds Shop Send your Material Items automatically to the Storehouse Season 6 of the Mission Pass

The most objectively important stuff being the Steam release(since we cannot have an actual windows store fix apparently),separate friend list ,more countries support. Seems to be a lot of new content as well so seems like a much MUCH needed update.