Looks better?? It just has higher contrast.
I'd say the old version is suffering black crush and lack of atmospheric lighting from dusty environments. One also can't compare HDR output on LDR displays - PSVR2 might be notably more atmostpheric without being simply brighter. Although the old one does look too dark IMO and detail would be obscured, to dark grey on PSVR with it's not-great black levels.
Yesnew No Man's Sky Echoes update brings foveated rendering to PSVR2 !