I think the car analogy is more this: Left hand drive, basic commands on the left side of the infotainment screen. Right hand drive, basic commands on the right side of the infotainment screen. Granted, you're not swapping between the two often so it's doesn't really work. But it's to do with the proximity of you (your mouse, or the driver) to the controls.
I mean, the old one was broken and so stupidly complex for many users, so I don't see that as a feasible option. A context menu needs to be simple to use, and for me the Windows 11 style actually worked really well for me, and many others. I used to have to scroll the damn context menu just to get to "file properties" in Windows 10. That was not a good experience, and I'm sure you'd agree.
What they're trying to do is make it the best of both worlds, as clearly you'd prefer the Win10 style. I'm curious how they're going to do this.
The "Show more options" has its place, as does the simpler context menu, but it should perhaps be a separate fly-out rather than relaunching the entire, old context menu.
The old context menu was getting absurd in Windows 10. Often I'd have to make the context menu scroll just to get to "File properties" on my old laptop. Even without much installed, the amount of items was just too much. It's a context menu, not a "do all" menu. Making it configurable is fraught with challenges too, so I'm interested to see how Microsoft tackles this one.