Great, great review.
Mentioned this in a thread somewhere, but one thing I think is important to mention about this record - it doesn't 'replace' Separation for me in any way. I love both records, for different reasons.
The opposite is true of Thrice's final LPs. I really enjoyed Beggars - but when Major/Minor released, Beggars became...less. The latter record stayed within the world of the former, so much so that it almost made Beggars irrelevant to me (that's an exaggeration, but I certainly listen to it much less now).
Separation and The Things We Think We're Missing hit different notes for me. The earlier album is more raw and unrefined, while the new is more polished and explores the more bombastic sides of B&C. Both will continually receive regular plays, and I'm not sure I have a favorite between them.
Hopefully that made sense.
Completely agree with you. Both albums are deserving of replays for different reasons, and I would say that this is just another great album by a great band rather than an album that transcends its predecessor to the point where it becomes irrelevant.