On my various Ford trucks over the years, the components look identical. However, the function is now controlled by computer, simply deciding when to engage the front wheels. To the best of my knowledge, there is no clutch in the transfer case.
The one real difference in function is the electronic locking rear axle. They've removed the limited slip, use brake application and throttle reduction to reduce wheelspin with the obviously and annoyingly open diff. I must manually select the locker function which mechanically locks both rear wheels together like a welded axle. This is awesome in really tough conditions, but utterly unusable when simply driving on the street or even on dirt roads in 2WD or 4WD.
Put another way, in the new truck in 2WD when making a turn onto the main road, the truck won't get up and go with full throttle. It will spin the inside tire, apply that brake and reduce the throttle. As oncoming traffic barrels down. The acceleration rate is reduced to grandma rates.
Better in tough conditions, worse for everyday performance driving.