Snap Inc. introduced a shiny, new Snapchat design Wednesday. The redesign places posts from friends and media company content into two separate tabs, and could make Snapchat a bit easier to use. But that’s about it. Because rather than alter the struggling app’s fundamentals, the redesign simply reorders its features, leaving the company essentially in the same place it was before: down in the stock market, losing key influencers to Facebook, and struggling to convince advertisers to spend with it.

In the “new” Snapchat, your friends still send snaps and post Stories. And media companies still post Stories and create Discover content. But there’s no new breakthrough feature, nor does there appear to be a major new revenue generator to entice skeptical advertisers. “Changes nothing,” one advertising executive told BuzzFeed News after reviewing the app’s new look. “It actually gave me a headache.”

Snapchat redesigned its app because its business is flailing. The company badly missed its revenue targets last quarter after a series of disappointing earnings reports, and added millions fewer users than expected. When turning in these subpar results, Snap Inc. CEO Evan Spiegel told investors his company would make Snapchat simpler to use, pulling a move directly from the struggling social platform handbook: When the car breaks down, give it a fresh coat of paint.

Snapchat’s investors could use some hope, and Spiegel stretched to give it to them in a bylined article in Axios where he bizarrely positioned his app’s new design as a major change with the potential to heal society….

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