We have significantly improved the Media Area, with a wide range of new features, QoL changes, and brand new tools.
Here's a quick list:
New Search Filters
General UI improvements
Fast access to asset details from Records
Localizable Titles and Alts
Real-time Image editor
To accommodate some of these features, we updated our APIs and released version 3.
If you want to read more about the topic, have a look at our blog post.