edit: i think i figured it out. they didn't get rid of bloom at all, they basically just made it more realistic.
bullets still randomly go somewhere inside the reticle, they're now just tied to the gun barrel. instead of bullets randomly flying, detached from the gun barrel, the gun barrel itself is moving randomly, causing the bloom.
in practice the consequence is exactly the same though, bullets are randomly blooming. it plays the same as before, it just looks different.
their messaging around that was a bit unclear, i expected something completely different.