Supposedly they're also changing how the whole "you get one free game per month" thing works. I can't find where the relevant link is anymore, but apparently they're making it so as long as you're subscribed you can play the games (didn't see if it was all VC games or if you have to buy them etc.). They mentioned playing online, so perhaps it's possible to play multiplayer games online on the virtual console?
The online subscription thing is also pushed back to 2018 so we get a bit more multiplayer playtime time for free this year.
The way they're naming the service suggests it's going to be a thing entirely separate from the Virtual Console. The post in question said that as long as you are subscribed, you will be able to play all of the classic Nintendo games on the service, with added online support. A different post also quoted that the service will only have NES games for now, with SNES games being under consideration but "nothing to announce at this time".
Now, couple the above with the sudden and inexplicable axing of the NES Classic...
Yeah. I think I know which 30 or so games are going to be included in that first batch of Nintendo Classic NES games on the service.
SNES being "under consideration" suddenly translates to "We'll release the SNES Mini, discontinue that, and then you'll have those games too."