I'm not sure that I like it, there are some great features but kinda offset by not so great features. I was looking forward to seeing the updated elevation mesh, as this should be an improvement on the default, and the Orbx addon mesh, being '10 metres' with some 1 metre bits. So first-up was a trip to the Alps, to see the new mesh in all it's glory -- but absolutely wrecked by the snow everywhere. I assume this issue will be fixed at some stage, but I've been saying that for a while now.
New Zealand gets photogrammetry at last, but again this is not the feature which it could have been. Here's a couple of screenshots showing what I love about photogrammetry, and some of what I hate.

If you have reliable bandwidth, there you'll see this sort of thing unless you get too close -- this is Ferrymead, Christchurch. You can see some of the historic buildings and the beautiful railway. There are a few photogrammetry cites included, so if you fly at a few hundred feet, you'll see a great representation of what's really there.
Another feature of photogrammetry is the detail in the rocky outcrops which show here in the distance on the Port Hills. No DEM required, these are just DSM models the same as the buildings here. However the weird banding at the edge of the photogrammetry coverage kind of ruins the effect.
Here's a close-up shot of this:

So all the work originally done to colour-correct and blend the photoscenery is now out the window.
I was pleased to see that Taieri works, although as promised there will be an update to fix a few cosmetic issues.
Let us know how you found the World Update. Hopefully it'll grow on me.