This whole confusion is a result of the movie being delayed. The big difference isn't the complexity, it's the sculpt and detail. The initial Airazor we saw is part of the Rise of the Beasts mainline that was supposed to be out months ago. That line mirrors the Earthspark and Cyberverse lines where the entire line is aimed at kids but there are deluxes which may interest fans as well due to their more standard complexity. Since these were worked on early, all toys in that line are based on early movie designs so that they could be sold in stores in summer of 2022 for kids and parents to buy, along with the 2022 holiday season. Also, it would be a unified class so all bots would be relatively the same size, and there would just be deluxes, no voyagers or leaders. That is the line the initial Airazor is from. Below is an image along with the listing for that Airazor and the other characters in the deluxe class of that ROTB movie line (Core Boy means the toys are aimed at 8 year old boys).
Tra Mv7 Core Boy Deluxe Class Ast with the EAN: 5010993983308
Deluxe Bumblebee (Codename: George)
Deluxe Mirage (Codename: Pluto)
Deluxe Wheeljack (Codename: Barcelona)
Deluxe Airazor (Codename: Titan)
Deluxe Nightbird (Codename: Outlaw)
The Studio Series one first shown just a few hours ago is from the 2023 Studio Series line that was always going to come out in 2023, so one year after the film. And with that extra time, the idea is that Hasbro would have had more updated designs to work with, hence the differences in design.
But since the film was delayed, the toys that should have already been out will now come out at the same time as the toys that were always meant to come later. Hence why we get 2 deluxe Airazors at once, both seemingly as complex, transformation wise, but different in design.
Below are some of the Studio Series Rise of the Beasts figures we know are coming in 2023 along with Airazor.
TRA Gen Studio Series DLX TF7 Bumblebee (Codename: George)
TRA Gen Studio Series DLX TF7 Airazor (Codename: Titan)
Tra Gen Studio series Dlx TF7 Mirage (Codename: Pluto)
Tra Gen Studio Series DLX TF7 Wheeljack (Codename: Barcelona)
Tra Gen Studio series Dlx TF7 Nightbird (Codename Outlaw)
TRA Gen Studio Series VOY TF7 Cheetor (Codename: Butch)
TRA Gen Studio Series VOY TF7 Battletrap (Codename: Appolo)
Tra Gen Studio series Voy TF7 Rhinox (Codename: Warrior)
So that means what we are seeing with Airazor will also happen with Bumblebee, Wheeljack, Nightbird and Mirage. 2 deluxe toys, both similar in complexity, but with different designs. We don't know if Hasbro will try avoiding to have them on the shelves at the same time or not.
Hopefully that cleared things up for some people.
