I think the new layout will incorporate better into the surrounding area than the previous "master plan" layout, which I think would have felt kind of closed off/gated to those who don't live in the community. The roadway and pathway network in the previous iteration was inefficient, and a larger consolidated park will provide a better amenity for the surrounding community than a bunch of parkettes.
Yes, the loss of density is a shame, but I still think this is a reasonable density boost for a semi-constrained site.