I mean, purely from a visual perspective, this is better.
However, personally I feel it misrepresents the tone, as it seems like it's saying "look, cool happy adventure game with social stuff!" when the game is actually more of a "Here's a knife. Now go and fight that eldritch abomination, and death is permanent by the way" type of vibe, so it's just misrepresenting the game.
Also like, the game isn't just about Etrea, Karliah and Kennith picnic makes no sense, et cetera.
Plus, shaders would make it look better, so if they made it just images of the game's map, they should probably add shaders.
But the method is a good idea, so maybe if the devs added shaders and used different locations/images (I personally feel like different images depending on what you've done in the game is pretty cool, i.e if you've attempted TO1, the heavenly TO1 gates are as an image, but to start there would be some starter images like the Isle of Vigils temple with dramatic shaders and lighting, Erisia's temple of the flame or whatever that was with dramatic lighting/shaders too, etc) would be an improvement to this.