I like the traditional regalia, mostly because it sets them apart.
I suspect there are several reasons for the change:
Younger men don’t exactly want to sign up and go all the way to 4th degree if they think the garb is too fussy.
Fewer people are eligible and membership around here is declining. We moved to another parish and the Council asked DH to NOT transfer to a new council.

The 4th degree garb is VERY expensive. I know many men who just won’t invest in it.
People like my husband would go all the way to 4th degree if he knew he didn’t HAVE to wear the garb. He’ll love this idea.
It’s a lost era I suppose. I know the children in parishes LOVE to see the Knights come out for their First Holy Communion and Confirmation, and when the Archbishop or one of the other Auxiliary Bishops comes out to the parish. They get very excited to see the swords.
The new? It’s not a great look. Who wears navy blue? Ugh. Looks like a Catholic school uniform.
The only thing I like about it is the beret, LOL. I have to admit it doesn’t look like anything that designates a higher rank, or an honorific. I suppose that’s what appeals to them at this point in time.
Makes me kind of sad.
BUT! :newidea:
In a related, hilarious SPOOF (yes people this is a spoof site, think of it as the Catholic ONION)
eyeofthetiber.com/2017/08/04/swiss-guard-to-modernize-uniforms-to-hipster-jeans-and-beanies/