pokemon ditched elo years ago. magic stuck with it and its problem of disincentive to play.
magic has ended up backed into a corner where they are unable to go down the route that pokemon used with periodic resets bolted on top of elo. Fortunately for magic they do not have age boundaries to consider and have many years of accumulated player data that they can use to kick start the points system. The system has inflation built in - it will be interesting to watch how MtG copes.
JMO but the most important change is that the new competative points are reset each year. The change from play at risk to pure reward may be the big headline story but it is not the most important change. The periodic reset is much more significant.