Nah, although I disagree with many placement choices in WinBox 4, the placement of "New WinBox" in the left menu like in WinBox 3 is actually illogical and out of place. That left menu list is reserved for items for controlling and setting up the RouterOS device.
"New WinBox" is a feature unrelated to the control of the router, only to the WinBox application, and should not be mixed among the menu sections of RouterOS. Things controlling the WinBox application / session / windows belong now to the top menubar.
And? It's actually for controlling the current RouterOS device. The Terminal is nothing else than opening the /RouterOS menu of the current RouterOS device.