And why is that? Doesn't even look like a spinner. There's a lot worst out there! Thought the new is probably better...

Well, because that is a 20+ year old 1/4" bolt which isn't that bad, but that hanger is ALUMINUM. Given how easily it broke when removing the bolt, I doubt it would hold more than a 2 kn fall.

You couldn't have paid me to take a good fall onto that bolt and hanger. It is over 35 years old!!! Some of these aluminum hangers in Rock Canyon have broken at the bend that forms the L-Shape. I've climbed for more than 20 years, 3 to 4 days a week, and have seen a lot of bad bolts from Shiprock to all over the desert southwest. It's one of the oldest bolts in the Wasatch Range and it doesn't matter if it's a spinner. Climbers should be wary of any old 1/4" bolts especially when they have a homemade aluminum hanger attached. The new one isn't "probably better", it's way, way, way better.
I applaude both Christian's and Perin's hard work in replacing these relics with their own time and money. I've always thought this was a very fun route, but it was a time bomb for an inexperienced leader to judge its quality and fall on it. I'm glad to see climbers keeping our canyons from falling into disrepair.

It looks like nice work, though. Not that I would, but if I had made that hanger I'd be proud of myself.

Yeah, that is odd. I'm surprised that, for being able to produce such an elegant looking hanger, they didn't think of how brittle it would be.