Hey guys!
I must say I welcome the new backup feature. It brings some functionalities that were missing previously. But it is not without it’s shortcomings.
Plus 
Backup retention
The old backup feature only allowed you to create new backups. If you wanted to automatically purge backups that you no longer needed you had to figure that out yourself. I welcome the retention feature of the new backup feature which allows me to set a number of backups to retain or number of days.
Cloud backup
This was an unexpected bonus. I usually create backups locally and than copy them to my NAS using the samba add-on. Now I could have synced that to a cloud service to adhere to the 3-2-1 best practice, but I never did. As I have the Nabu casa subscription this instantly took care of my offsite backup.
Needs improvement 
More granular backup schedule
With the old backup feature I periodically removed the backups I no longer needed. But now that we have a retention setting I maybe even want to create hourly backups to decrease my RPO (amount of data loss). The retention setting makes sure these backups don’t fill up my disk. But unfortunately the current schedule settings doesn’t allow me to set hourly automatic backups. Also I find it really annoying that the backup time is now set to 4:45 with no way to change it.
I already had a backup that failed and I suspect that this is due to everyone uploading their offsite backup to Nabu casa which caused an unintentional distributed denial of service.
Configurable database purge
I read somewhere in this thread the 4:45 time was chosen because a scheduled database purge occurs at 04:00. It would be nice if this was configurable so you can align this with your backup schedule. Or maybe even have the purge triggered by a backup.
Encryption toggle
It would be nice if you have the ability to toggle encryption for those of us that don’t use a cloud service to store an offsite copy of home assistant.
Decryption tool
Given the open nature of the home assistant ecosystem a documented way of decrypting the backup yourself is a must in IMHO.