On one hand it's pretty pathetic that we've had to wait so long for some of the minor additions, tweaks, and bug fixes, but on the other hand I think there's some small things in this update that could have a pretty big impact, and address some longstanding frustrations.
For example, addressing the fixture congestion issue would mean that you no longer need to have essentially two first teams when playing in multiple competitions at the highest levels. This is a pretty big deal IMO because it means wasted transfer money that you might have spent on two solid players means that now you could instead go for that one elite player and not have to worry about needing extra bodies for when the fixtures come fast and often.
Maybe more importantly, especially for those of us who've complained how easy CM is, the removal of form and the advertised fixing of teams not starting their best starting 11s should mean a more difficult (and realistic) gameplay experience (obviously gameplay itself is still most important here). The key will be how morale works, and hopefully it won't be OP like form was. It's a more complex system, so that's promising, but it all depends on how well it's implemented. It's also good that they've increased the transfer costs of defenders because in my last CM I was able to buy an elite level defense in one transfer window.
If dynamic player potentials is done well, I think that too could have huge ramifications, and I'm giving EA props for this since it was probably the #1 community ask and I didn't think they'd bother. But hopefully this will mean you can't so easily cheat the game like you could before. At the least, it should really improve replayability.
One thing I'm most curious about is how the previous email inbox system has been overhauled with this new player communication system. If they can cut down on all the meaningless and redundant communications - and finally we'll be able to disable the damn int'l job offers! - then that could also be a decent quality of life improvement.
I know that many are disappointed that more substantial features weren't added (and I totally agree with
@Chris Davies that it's almost criminal that FUT is getting a pre-match tactical feature and CM is not!) but personally I think this is an impressive update (at least when you consider how little love CM has gotten in recent years).