It's basically a re-worked "modern" version of the legendary PT630 (which is the racquet many Pros use with the PT57A Pro Stock code, under the "Prestige MP" paint-job, including Andy Murray - until recently when he moved onto the Prestige MPL 2021 with a PT57A layup). They made the RA 65 instead of 58, and they removed Twaron from the construction (which was the secret sauce in the original PT630), however, it seems it hasn't done it any harm. The racquet is still very plush, has great feel, ball pocketing, and the same laser-like control, but just seems to have a bit more easy power (compared to the PT630), and a very slightly firmer feel (compared to the PT630 - yet still a plush ride compared to 95% of racquets out there).
I think Head was not sure how the re-release of the re-worked legend will go and whether it will sell well and be accepted, so they put it at a lower price point to try and sell them and make them more attractive.
It is a fabulous frame, hits a massive ball, and feels amazing. Plus, you will have an absolute legend in your collection of racquets... at a bargain price. I think in years to come, people will be kicking themselves for not getting many of these at such a great price. The downsides (for some) are that it is a smaller head size, and that you need to have proper strokes to play with it, and the strength and technique to play with it for 3-5 sets. But if you're used to 350g static racquets, it should be no problem.