... means that you don't have to start over from the beginning anymore and can skip to the newest stuff?
The game isn't linear and they usually implement a single story per update. So it's not like you'd need any other old content to play the new story. You simply start your normal game, only play the new content, which usually starts on the first day of gameplay, and there's no need to skip anything. That's very likely going to be true for this update, too.
There have been some minor exceptions in the past, though. Having said all that, savegames should work this update.
This game is getting more bloated that a ocean carcass . How about finishing the old characters before you keep adding more ?
Well, given the way the stories are written you simply need a certain amount of minor secondary characters. Like, Eve's update wouldn't be as good without Grace and Odette and Roxxy's story would be way, way worse without Missy and Becca. Unless you intentionally shrink/limit your cast, good stories rarely happen in a vacuum.