New lineage options!
I'm going to take a moment to say, they should really release a book where all of the past races are redone using this new system, if they go forward with it. I know they are fighting tooth and nail to not have to push for a “5.5” or “5esentals” but really the design philosophy of races and classes have changed enough to where they should do something along those lines.
Ability Score Increases
Now a stand-alone feature separated from race.
Increase one score by 2 and a different score by 1, or increase three different scores by 1.
Creature types:
Of note, none of these have multiple types. Did they drop the mechanic? We will see when the Ravenloft book drops I suppose. I liked the idea of that mechanic, but in practice it just piled on weaknesses without any benefits.
Fairy
Clap your hands if you believe.
Fey Characteristics.
The default quirk list is more saccharine and less Fair Folk. But that is the style nowadays.
They are Fey, and nothing else.
They are small and fast.
Fairy Flight is (walking speed) magical flight with a hover and no gear restrictions.
Fairy magic adds one of the best level 1 spells to your spell list and gives you a free cast.
Fey Passage lets you slip through basically any gap.
Thoughts.
Basically, I would consider this one overpowered. The only thing it doesn't have is Darkvision.
Hobgoblin of the Feywild
So, goblins are from the feywild now?
Fey Ancestry.
Just advantage VS charm. They are still humanoids, but are they goblinoids?
Fey Gift.
Bonus action help, at pb/lr. Also it does other stuff too. Temp hp and disadvantage on 1 attack are good at level 1, but scale poorly, an extra 10 speed could be more significant.
Fortune from the Many
Now, this is the real deal. An up to +5 bonus whenever you miss an attack or fail a check or saving throw. Not only does it only work when you would have otherwise failed, +5 is a huge bonus and you can use it pb/lr.
Thoughts.
Not in the same league as the Fairy, but still powerful. The more interesting bit, to me at least, is the new goblin lore.
Owlfolk
Once, Owlbears, now Owlfolk. What next, Gelatinous Owlcubes?
Pick your size. That's nify.
Darkvision. Better than normal but not superior (presumably because that means they get light sensitivity?)
Magic Sight. Well, not quite, it lets you cast detect magic as a ritual, which could be handy.
Nimble Flight. Like Aarakocra, you have wings and arms. Unlike Aarakocra, your wings aren't puny little things and you can fly around in full plate.
Silent Feathers. The stealth skill for free.
Thoughts.
This seems to be the new direction in flying PCs: Flying is Flying, take to the sky. To be fair, the armor restriction wasn't a real balance concern anyway. The real concern is having a warlock or longbow user snipe people from so far away the target can't retaliate.
Rabbitfolk
Was there much demand for rabbit-people or is this a new anime thing I missed?
Pick your size, again. Now I wonder if this is a new secret standard they are testing.
Hare-Trigger. That pun is bad. But +pb to initiative is a huge boon.
Leporine Senses. Free Perception.
Lucky Footwork. A reaction for a bonus 1d4 when you fail a dex save, not the best feature but could come in handy.
Rabbit Hop. +1d12 distance as a hop when you move 5'. I have to say I don't like this mechanic. It doesn't snap clean to a grid (which all movement should).
Thoughts.
Comes in strong, but peters-out in the end. There has to be a more elegant and integrated solution to letting a rabbit hop around.