No, you're absolutely right.
I had it years ago and wore it back in the late 80s, early 90s. It was so-so to me but popular, so I wore it. It had somewhat of a menthol kind of smell to it.
Last year, I was looking at colognes and decided to smell it again. It was a burning wood kind of smell, VERY different than before. I loved the change! After buying a bottle of the new formulation, a friend of mine said it smelled different from before, as well as my mother.
RL does everyone a disservice by not releasing the new formula under a new name, because it is an entirely different fragrance.