Right? I feel like it hasn't. My first thought on seeing the link was 'holy shit penny arcade still exists' followed swiftly by 'oh dear God what is this hideous malformation of my nostalgia' shortly after the art loaded.
I'm so glad I'm not the only one that thinks this! I can see how and why it happened, as the art style became increasingly stylised and exaggerated over the years, but visually it's really, really not my cup of tea. It feels like what happens when you spend all your time just drawing the same thing over and over (ie, two specific characters) to the point that they become increasingly caricaturised and distorted.
No one else I know dislikes the art, and like... I dunno, it's a successful and well-loved comic that a lot of people enjoy. I don't begrudge them that success. It's just not a visual style that works for me. And it's kind of nice to know others have noticed the same thing and it's not just that my perception was completely off.