Yes it shares less, but I think the trade-off is you pay less in tokens and hopefully it's truly just not needing to say things because it truly does just better get what you're saying, think to read X markdown file or GH issue which contains the info, etc.
As long as I can still push back and get it to share its thinking on demand and I'm confident the model isn't actually basing things on poor premises, this is okay for me. I am more productive when not inundated with time-wasting check-ins.
That said, I absolutely lament the loss of the ability to access the thinking - I would happily read the "DANGER DANGER DANGER" internal gremlin thoughts fable 5 makes to verify something if they were accessed, and prefer that to a recap presented only for my benefit.