As a few others have said, i think the old logo can definitely be replaced. But the new one is a bit too clean and doesnt capture the dirtiness or rust of vintage story well. I do like the blocky-ness accentuating and noting the block-game nature, but its also a bit generically block game on its own.
The new logo is better, but it can be improved even further. Slightly more painterly style? More presence of the dirt/rust/eldritch themes?
Additionally i dont think the thick-lined cartoon/comic style fits vintage story. Pixelated can, painterly absolutely does. But cell-shaded doesnt.