It was, and the old ones were like full invitee torneys (thus you saw a lot of NA teams constantly). And while it's still a closed circuit to an extent at least new teams have a chance to qualify to it through Blast Showdown. And the
new tournaments are separated into two parts (groups and the final) with multiphase qualifying process. The old ones were considered A-tier short tournaments while the new ones are legit S-tier events with higher prestige value. So not really compareable in any way.