It's definitely better, but still bad.

You still often can't tell which direction someone is coming from. Also, you can't tell how far away an enemy is.

I saw that an Audio developer from Riot wrote on reddit that they intentionally made it so that you can't tell the distance of the enemy, because in their eyes it's more important not to miss footsteps in the distance.

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Quote:

"This means we optimize less for understanding how far away a footstep is because that would mean more volume dropoff over distance, which could lead to missing a footstep[...]"

"Missing footsteps tends to be much more frustrating when it happens[...]" - PulsarZealot

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In my opinion its much more important to be able to consistently tell the distance than to overhear a step in the distance.

It's mindblowing to me that they see it differently.