On the face of it (leaving the Single Market & Customs Union) this is not what would have been called a “soft” Brexit 2 yrs ago.
But it’s a bit softer than that suggests. Lots of “let’s keep this and that bit of the CU/SM but not call it that”
And remember - it’s the withdrawal bits & Irish backstop that really matter. The rest of the substance can come later.
Meets UK red lines (in name anyway) and EU red line of “4 freedoms indivisible”.