What I wrote:
Overall the new ranger is a huge improvement over the previous version.
Natural explorer and primeval awareness are great, especially now that they are not restricted by terrains and the latter doesn’t use a spell slot. For a character who has ranger as the only class natural explorer does not feel too powerful. However, natural explorer could be considered strong when multi-classing, which would lead to one level dips. A solution could be that the bonuses of natural explorer could be spaced out over different levels. For example ignoring difficult terrain could be merged with fleet of foot and advantage to initiative and advantage to the first turn against creatures who haven’t taken an action could merge to form a separate feat given at a later level, maybe switch places with primeval awareness.
Situational abilities such as favored enemy and favored terrain should not exist, especially when they are presented as central to a less than strong chassis. Favored enemy is the only feature of the new ranger that I believe should be completely removed. Abilities like favored terrain or favored enemy feel too restrictive and they are not needed to form a complete image of a ranger. If rangers are good at hunting then this should be represented by abilities that work against all creatures. Also, favored enemy still suffers from the problem of the player making the wrong choice in the beginning (picking undead in a non-undead campaign) or forcing the DM to add monsters to the campaign that they didn’t intend to otherwise. A class feature that gives some kind of bonus to tracking or hunting creatures in general would be much better.
Beast conclave is great and it is good that the animal companion was kept as a subclass option. However, the hunter conclave could use some updates to become more interesting. Regarding the deep stalker subclass it would be nice if it was separated from the Underdark and it had more of a generic “wilderness” stalker theme or simply called “stalker conclave” as it is already mentioned somewhere in the UA. This is for the players who want to play a ranger that specializes in stealth, but without the caverns/Underdark/underground theme.
It would be more flavorful if every ranger subclass got thematically appropriate bonus spells and not just the deep stalker, since it would further distinguish each ranger subclass. More ranger specific spells are always welcome, as well as a subclass which focuses on the spellcasting aspect of the ranger (the seeker?), to go along with the animal companion, martial and stealth oriented subclasses.