This is not the classic ULS log viewer released by Microsoft. This SharePoint ULS log viewer is different and efficient than the classic ULS log viewer. One of the key pain point of Classic ULS log viewer is parsing of date and time of log entries. By default that was set to En-US locale and there is no option to change that locale and this made the log viewer useless after 12th of every month due to date time parsing issue.
This log viewer does not have that issue and provides real time monitoring and filtering option