What were the changes in the new damage system?

Everyone is talking about the anti spam mechanic but I’m more focused on the lack of impact from punches. Like I could get a perfect counter hook to the chin and have it make a loud sound with a lot of feedback just for my friend to tell me it did barely anything, but if I throw a few lose effort straights then hit a lazy hook they go down. Is the combat system more combination focused now because flashed feel way more rare than they once were