The reward of competitive points
(CP) has also changed. These are used to unlock gold weapons @ 3,000 each... there is no other way to accumulate or purchase these points: they are only awarded in Competitive mode after a win or tie, and Rank placement.
OW2 is only awarding the CP payout for your highest, single Rank placement, and not the highest rank within each queue. This cuts CP earnings by 75%.
I'm estimating that 40 hours of OW2 gameplay (during a 60 day season) is required to just
obtain the CP payout from OW1, which took less than 4 hours.