In 1.21.5, the main menu panorama textures had a subtle blur/antialiasing effect. In 25w16a this is no longer present, which causes some flickering or shimmering to occur when the panorama is rotating.
Steps to reproduce
Start 25w16a
Look at the sun through the trees on the left-hand side
Notice how as the panorama rotates, there is a lot of flickering
Close the game and start 1.21.5
Look at the same trees
Notice how there is much less flickering as expected
I've attached a video which shows this (although it doesn't show up as much on a recording), as well as screenshots
Confirmed.