> Does it? Another powerful calculating engine trapped behind a skeuomorph interface?
Yes, it does. This is not a calculator app. It's calculator firmware that happens to also be runnable in an app.
They're trying to cram a HP48ish calculator into an HP42 clone calculator body, while retaining much of the UX of the calculator they're replacing.
The HP42 is the direct successor of the HP41 without the hardware interfaces and gizmos. Its essentially software compatible with the 41.
The HP48 (and -28) are completely different animals, from ground up hardware redesign to the notable RPL (Reverse Polish Lisp) foundations, and just in raw functionality as well. The 28/48 series had symbolic solvers and graphing (among a laundry list of other things), both novel at the time.
If you wanted an RPL based system in stand alone hardware with real buttons, you were stuck with legacy calculators. This fits in the modern DM42 system.