The real question I'd absolutely love to know the answer to is: what happened? Clearly Frontier at one time had an excellent handle on planet generation, I mean the planets in the old videos would give Space Engine a run for it's money, maybe even outdo it completely. Frontier at one time had done a possibly "best in industry" job of it, yet planet gen was downgraded massively for a reason.
Can you stop making your opinions as facts and then draw false conclusions?
Planet generation as revealed during Horizons preorder looked worse than we currently have it. Heck, many people complained about various things on planet surface not being good enough. Then they complained that there are nerfs. Then etc. etc. etc.
While actually what devs do is treading carefully while trying to do improvements in performance. If you one of those "ohh, I got everything running smoothly" well there are many people who didn't. Also considering that FD just adds more and more things to see to surface that matters as well.
Planets definitely look better, sans color scheme - 2.3 added way more details on planets which I like very much. There were discussions about this issue some time ago and devs acknowledged they want to improve situation and make them look better, but it will take considerable rewrite which will most likely will be tied with bigger update than 2.3 or 2.4. Features in game depends on each other and yeah, it sucks, but it isn't something you can easily tweak or fix just outright.
So stop this drama queen scene. Yeah, you might not like it. But doesn't mean there's some 'downgrade', or another kind of nonsense going on. This is a huge game with huge, complex issues to solve.