I do not like the new tab visuals either. Tab separator or not, there is a large amount of space wasted for empty regions between tabs + the fadeout effect.
I would very much like an option to enable hard tab separators, square tabs, and as much utilization of space as possible. Firefox has traditionally been very good wtih lots of tabs (its scrolling tab block is excellent, Chrome was unusable with hundreds of tabs). Now it’s much worse for that — the title previews are extremely short.
If not going back to separators OR removing large margins and fadeout effect, the tabs could be at least made to have wider minimum length. As it is, the tab title is less than 6 characters long!