I thought the app was being rewritten and that this version was only gonna receive fixes until the rewrite is over.
That's correct. The "New" and "Improved" changes are mostly from pull requests that were opened before the rewrite announcement, or are important quality of life improvements.
Hide the 'Shorts' channel tab:
Settings > Content > Channel tabs > Uncheck 'Shorts'
Hide shorts in feed/subscriptions:
Settings > Content > Fetch channel tabs > Uncheck 'Shorts'