I'll try to answer as much of this as I can, since I own both the 2025 version, and the 2020 version (there were no updates from the 2020 to 2022 version other than colorways). All of my clubs have regular size grips and a smaller putter grip:
-Both bags feature a half-spine and full length dividers. The 2020 version has two, the 2025 version one. Both attached to the bottom of the bag, but not the sides.
-The 2025 version is significantly smaller, both in capacity and footprint (photo below). The opening on the 2025 version is pretty small, but the 2020 version might be closer to the Craz-E-Lite as far as size of the top goes. The 2025 version is meant to carry 7-9 clubs, while I easily fit 14 in the 2020 version. I've only carried 7 with the new version, but I'd guess you could go with 10 before things started to get crammed/tangled. 7 seems like a good number.
-As mentioned, capacity is much smaller on the new one. Only three pockets on the 2025 version (2 side pockets and a water bottle pocket). Those pockets are certainly smaller as well. You could probably do 5 balls, a snack or two, your valuables pouch, and a water bottle before you ran out of room. The older version you could maybe sneak a light jacket in the longer pocket.
Now the subjective stuff:
I love the new version. I walk exclusively, outside of scrambles when I have to take a cart, and I think that the new version is the best Sunday bag Ping has made. I've had the last 5ish generations of the moonlite (or it's equivalent), and I think this version is a modern take on some of the older bags. Just enough room for what you need, and nothing you don't. The single strap is also well padded, stands up a little better on it's own when you set the bag down so you don't have to bend over as far when picking it up, and with the design on the bag you can easily carry from both sides of the bag throughout your round. I do not miss my stand at all when carrying this bag.
I did also really like the 2020 version because I could do a full set, but at the end of the day I would always end up carrying my Craz-E-Lite instead so that I could have the stand since it was roughly the same weight when loaded. The dual straps were nice to have, but I almost never used them when I did have them.
*maybe my favorite thing about the 2025 version: Zero bag chatter. Because it is smaller and clubs are closer together, they do not move as much as you're walking. I could get the 2020 version to be quiet as well, but it always took some creative weaving of a towel between club heads.