Unimpressed. It’s advertised as “the biggest update since the introduction of Apple Watch” and I haven’t actually noticed any improvements. A few rarely used features are slightly different but I can’t think of anything I use that’s substantially improved.
There are a few features exclusive to the Ultra hardware that I want, but I’ll have upgrade to get them (I probably will, but I’m not particularly happy about having to spend so much money especially since the features I want clearly would be possible without the premium price).