But the new stuff is better, by a lot?
I can’t tell you much except that the newest stuff is fire and forget so the attacking soldier does not have to steer the missile to the target (wire or laser guided). This allows the soldier to fire the missile and run. Once the soldier fires the missile he has shown the battlefield where he is, so better run. If he has to guide the missile he can’t run until the missile has hit the target.
The TOW attacks from the top where the armor is thinnest and there unlikely to be stand off armor.
I have to imagine that there is in development a missile with a double charge. The first charge would detonate reactive armor (such as the M1 tank has) and the second would penetrate the layered armor underneath.
Anyone hoping to defeat the M1 today has to fire at least two missiles. The first to detonate the reactive armor (the top layer explodes outward to deflect the missile). The second missile the must hit the same spot to penetrate (maybe) the M1’s further layers of armor.