The 2011 one is considerably more insulated, leakproof, and had far sturdier materials. I liked the 2014 one in concept but there's very little insulation, I've heard varying reports of leaking, and it just doesn't feel as sturdy. "******" might be a bit harsh but I would've rather had them allocate a bit more of the membership fee to it and do it with the same insulation and quality as the 2011 bag. I've used the 2011 bag at least once/week since I got it, whereas I only use the 2014 bag if I don't have any cardboard 6 bottle carriers handy (I rarely have two 2L growlers at once so that function isn't useful for me).
It's a minor thing to bitch about, no doubt.