Lyft announced the new app intentions on its site -- it won't roll out until the end of July -- describing the new flow and features. It will offer better comparisons of the cost and durations of different ride options, a la Google Maps, and allow you to save frequent rides for one-tap requests.
The company's ridesharing feature, Line, will be subsumed under a new Lyft Shared, but doesn't really explain how it's different; it does sound like Lyft's raising its profile in the app in order to highlight ridesharing, though. But it's possible that Lyft Shared will also include one of the public-transport integrations that also debuts.
It doesn't sound like Lyft is presenting you with public transportation options the way Google Maps does, though. It's targeted at "providing late-night service, filling first-mile and last-mile gaps, providing access to transportation deserts, and delivering on-demand paratransit solutions." In other words, it will know when there are no public transportation options for a particular trip and helpfully suggest Lyft Shared alternatives.
The update also will offer alternative pickup and dropoff locations for congested spots, which may be helpful when you know that the last block to your current spot will take an extra 10 minutes, because New York traffic.