The photos tell a different story. The new cubicles reduce noise from the corridor but still provide line of sight between employees (ie, no privacy benefits).
I'm pretty sure it's not about privacy but productivity. Cubicles are probably there to isolate sound and visual distractions. Line of sight emulates body doubling and accountability buddies.
I don't have strong opinion on the lack of privacy. I've been body doubling full-time in work for the last few years and I never felt need for more privacy. I can always go somewhere else if I need to take a break. However, ymmv.
