Terms for CNs purchased prior to 1/11/24:
A CND can only be applied to a new reservation and otherwise has no cash value and is not redeemable or exchangeable for cash.
Terms for CruiseNext Credits purchased on or after 1/11/24:
All Credits are valid for purchase of new reservations only and do not expire. Credits may not be applied to existing reservations.
It's like the same thing only different. Somebody will have to test this with a CruiseNext Credit purchased after 1/11/24.
It also appears that they now have a third party involved:
CruiseNext Credit (CNC), CruiseNext Haven Credit (CNHC) or Sixthman CruiseNext Credit (SCNC) (CNC, CNHC and SCNC may hereinafter be referred to as, collectively, or individually, a “Credit”) are issued by Goodwill Credit, Ltd.
All Credit(s) are issued by Goodwill Credit, Ltd. and any claims or concerns with respect to Credit(s) are to be directed to Goodwill Credit, Ltd. at www.goodwillcruisecredit.com.