The functions remain the same — the desktop web app helps you upload your app, create a product page for it, manage releases, and view analytics and user feedback.
What’s new is that the App Store Connect provides a companion iOS app that helps developers manage the store availability of the published app and track its sales. Developers can respond to reviews instantly.
What will be integrated soon is a feature that will allow developers to send simplified TestFlight invitations, allow easier team access management, use a new REST API to automate tasks, and much more.
App Store Connect is available on the App Store for free right now.
We do not exactly know if this app is a direct replacement for iTunes Connect or a rebranding because the iTunes Connect app is still available on the App Store. It is a guess, that Apple will migrate developers to App Store Connect soon.
If you want to know more about the Apple WWDC 2018, you can check out the keynote highlights here.