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The new store includes tons of new features, UI refreshments, new Store policy. And thanks to the new Store policy, apps like Reddit, TikTok, Amazon Store, VLC, have come to the new store, making it much more usable than the old one. Going forward, other big names are also expected to bring their apps to the revamped Microsoft Store.
Interestingly he confirmed the Store will still support Win32 apps, though of course, it seems unlikely that support for Android apps will come along for the ride.