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It's not just an update, it's a different lens class. I just think that Nikon will continue updating the older lenses before creating a high-end, slow 70-300 zoom.
For some reason Canon has a wide range of similar lenses, for example four different 70-200 lenses and three different 70-300 lenses. Nikon typically only offers 1-2 of each.
Frankly, it's practically a miracle that Nikon finally developed a new 70-200/4.