I personally like the old one as it encapsulates the tone & vibe of Vintage Story. The old artwork has a lot of charm to it, I love the hand-painted rustic art-style it's like an amazing cover of one of those fantasy books. I like the little overhanging soil/grass & the dark bits of stone at the edges of the ground, it gives off a creepy/unsettling feeling to it.
The new one looks good but It looks too cluttered, I think some parts of the mechanism on & near the tree trunk needs to be reduced. The blockiness & outline gives off that cartoon-y look which I feel like doesn't fit Vintage Story for what it is.