The Xbox One S looks like a really clever redesign of the hulking Xbox One. It's compact, takes away a lot of nonsense, and is supposedly even more powerful than the first console.
One thing the Xbox One S doesn't have though is a Kinect port. For a console that was once bundled with the peripheral, that is a huge step. The Kinect has been falling out of favour with the Xbox almost since it was announced, and this is a pretty big nail in its coffin.
It is said that there will be an adapter at least though, so if you do plan to get the new console and do want to navigate with voice commands, it will be possible.
Note: To reiterate, you can indeed use the Kinect with the Xbox One S, but you will need an adapter. If you can prove you own one, you will get the adapter for free, otherwise it is $50.