This was my observation as well. I haven't used Notepad in so long, I had to open it for comparison. Yes, they've doubled the amount of wasted space, changing one menu item from text to a gear icon.
It's also possible that this is a joke. Nobody that reads dev blogs uses Notepad as part of their mission critical process.
Assuming you're a Windows or WINE user that uses notepad somewhat regularly, I challenge you to use the new notepad for a month and then try switching back. I'm very curious whether you'll miss more features or be more happy about those five pixels.
I do agree, it's completely unnecessary, but I'm still surprised the "bullshit" is limited to those few pixels of menu bar and some actual problems were fixed instead. (This feeling and this thread really go to show what people expect from the brand.)