Well, it's better in my opinion. The controls for playing videos are now full screen and all those Windows are finally gone. It runs very similer to the Sakura firmware. Givin that Moonlight wrote the Sakura version, it's not surprising to see the next version of Moonshell work in the same way.
The main difference between this and the Sakura version is the simpler system folder (different name as well), and that it doesn't load roms the same way.
I also found out that the skin for the video player is incomplete at the moment. But a future update will fix that. I've also heard that this plays videos better then Moonshell 1.7. Its v2.0 after all. Expect better video quality as this gets the finishing touches.