What’s So “new” About the “New Covenant”? Jeremiah 31:31-34; Ezekiel 36:24-28

Does the New Covenant really replace the old one? Many in the church believe that the New Covenant cancels the Torah and God’s covenant with the Jewish people. But is that true? Is there really a canceling of the Old or is there something radically new about the New Covenant that makes it “new”, but also connects it to all the others before it? So, what really is so “new” about the “New Covenant”?