It does. It's actually really well designed. While I see no reason for them to have brought back Mewtwo, I can't complain about it nor can I complain about the new Mewtwo form considering it looks really well.
Again, it looks fine and you're overreacting. It's no less overdesigned or having useless features that the Original Mewtwo. Hell, I'd say it's even more of a simple design. As for them ruining your childhood, stop it. Just stop saying that right now. They haven't removed the orignal Mewtwo from the games or gone back and retcon your life to where it never existed. You can simply ignore this new form and love the old Mewtwo, not that hard.
Anyway, here's some screenshots of it in-battle.