It is intended to show content from past entries, not only the count. If the entries have photos, the widget should show those photos; otherwise it can show the entry heading/text preview, as in your screenshot.
The redesign was based on the assumption that a visual/photo-focused widget is more engaging on the home screen, and that most users are more likely to use the widget as a quick memory prompt than to read longer journal texts directly there.
I’m listening to the feedback about this change. To better understand the use case: did you mainly use the old widget to rediscover random old entries, to see today’s entry, or as a scrollable text preview on the home screen? Also, was the image preview important, or mainly the entry text? This helps me judge what kind of additional widget would be most useful.