I phrased that poorly.
I got the alert that there was an update available, and then chose to install it.
When the menu icon disappeared along with the Preferences button, I thought
there might be something wrong with the auto-delivered package. So then went
looking for that version on their site, to attempt an uninstall/reinstall.
Yeah, they really pooched it with this update. I've got the same thing happening. I'm not sure why they don't add a "Run in Menu Bar" option like SpeedTest does so you can choose to have it there or let it float free if you want.
"People were too satisfied with the previous version, we had to make sure to make the overall experience worse for everyone."
I've never understood why they don't do release notes like literally every other developer on the planet. They know what the release notes are because they had to do stuff to the software. It's either supreme laziness, run amok arrogance or extreme obliviousness. I don't think it's extreme obliviousness.
Paraphrasing their reply to my inquiry:
App window was refusing to open for some users, and to fix that issue it had to be removed from the menu bar. There is no apparent way to put it back there, but that functionality will be added back later.
Honestly, I don't care that much about having it in the menu bar, but a little warning would have been nice.