"The tool panel lost its words, it's now just icons. Functionality has to be discovered by hovering. This is the worst UX habit from mobile, I wish it would stay out of my desktop tooling."

One more thing on this - hit Shift-Space to show the available tool icons with labels as a context menu.

If you prefer this (I do), you can then hide the icons on the left via View > Toolbar (or equivalently, toggle via the T key).