Topic on Talk:Grandia II Anniversary Edition
It's basically it's own release. And it's objectively worse in every way to Anniversary Edition. And doesn't fix any major bugs or upgrade the visuals.
See my review https://steamcommunity.com/id/Vosse/recommended/330390
I would recommend rolling back to the AE in the beta tab unless you care that much about 16:9 support. (Which creates artistic compromises and no option other than to roll back to get true 4:3 support back)
Someone should roll back this page to before the update, duplicate all the changes to the article after the update and make it it's own page.