This release is, to me, big news. It reminds me of color grading which video enthusiasts are already familiar with, but for stills.
This update is for Lightroom, Photoshop and, of course, Camera Raw.
It includes a new Adobe Color to replace the standard we have had for ten years or so, plus ones for Monochrome, Landscape, Neutral (maybe like S-Log in video), Protrait, and Vivid. These are for raw files.
In addition there are some 40 or so creative profiles that can be applied to any type of file, JPG, TIFF, etc.
Plus there are all show as imaged on the main screen of Camera Raw, for instance. This is a very important change and looks to save me LOTS of time. Check it out:
https://theblog.adobe.com/april-lightroom-adobe-camera-raw-releases-new-profiles