I recreated the criteria that the club set themselves to design a new logo. It was pieced together from screenshots from the EvertonTV video.
I think the problem is with the criteria, I don't think the "Everton" text is needed, let alone needed to be made more prominent.
1878 has been on the badge for two decades, nearly everyone knows that it's the year Everton were founded (as St. Domingos). I don't think it's needed anymore.
I don't think that "Old fashioned" is always a bad thing.. next to item described as old fashioned, there is the text modernise.
I think they've scrapped the laurels because they described them as historic and traditional, there are other items already on the list with those attributes so they probably didn't want to duplicate an element with those values.