So tell me, Extremo... what do you think of the new toe ratchet? (if you saw it)
It's the same ratchet, just with a dummy lever added.
Personally I'm not a fan of how it looks. The low profile of the binding is what appealed to me when Union first came out and I thought they did a good job redesigning the second generation lever that I'm riding now, in both aesthetics and function.
Fortunately they're not on every model, and I have enough of them that I can swap them out on new bindings, not to mention you'll still be able to buy them on C3. I know a lot of people were asking for it so I understand why they added it. Ride had to go the same route for the same reason.
Plus Snowolf brought up a good point. A lever provides a tether release point when you're in the backcountry. I don't ride backcountry so it doesn't really effect me, but to those who do, I'm sure it adds a much needed function to the binding.