This Is Not Your Father’s ____

What does the idiom “This Is Not Your Father’s ____” mean?

Definition:

This item has been much updated from its earlier versions.

For example:

“You may not have liked this bat in the past. But this is not your father’s Louisville Slugger.”

Notes:

This comes from an ad campaign for Oldsmobile cars: “This is not your father’s Oldsmobile.”