As a Splatoon 1 veteran since the first game, all I can say is it depends on your definition of missing out.
During the Splatoon 1 days it really felt like times were a lot simpler whenever I played it. It was also when posts were actually a lot more fun to read and see, as it typically wasn't too much of the same kind of post being posted.
On the other end, the Specials were OP, for example, the Bubbler followed the player, could be shared with other players, and was completely indestructible until it ran out.
Overall, I liked that I could just escape into this strange world ruled by humanoid cephalopods and forget about real life for the duration of a playing session.