Prof. Derek Muller (Iowa) breaks it down.   Basically, the editors chose to downgrade the importance of "input" metrics (like LSAT and GPA), and dramatically increase the weight for output measures (like bar passage and employment), which now count for more than 50% of the overall score.  In a way, this is salutary, since it will incentivize schools to improve those metrics (or fudge more aggressively!).  The whole formula still of course makes no sense, and is inexplicable in terms of the weightings.  What is clear is that the results are even more detached from traditional criteria of excellence, like faculty quality.  The rankings will also now be much more volatile, for reasons Professor Muller explains.