It seems like Google is hitting the reset button on the product they call "Antigravity", existing users be damned. Fine, if you've never installed or used the previous version before... but for existing users the "bait and switch" is incredibly disorientating.
My take is they saw the market size for a general agentic tool as being larger and more significant than a specialised IDE. It shows a pretty large lack of respect for users in the later group though.