Unlike in previous firmware updates, this one actually implemented a few keys features aside from improving stability. QoL improvements were added such as the ability to track down lost Joy-Cons by forcing them to vibrate (will not work if you lost them outside like in Recto for example). In addition, you can now add friends by using your existing 3DS and Wii U lists, change the user icon order on your Home Menu, and many more. These changes aim to improve the console's user-friendly designs to enhance your overall experience.
If you aren't satisfied with the summary, here's the full description of the updates from Nintendo:
Improvements Included in Version 3.0.0. Added the following system functionality:
- Register a channel to receive News for specific games
To register, head to News > Find Channels
- Add friends from your Nintendo 3DS and Wii U Friend Lists
To add friends, head to your My Page on the top left of the Home Menu > Friend Suggestions
- Receive notifications when your Friends go online
To turn this ON/OFF, head to System Settings > Notifications > Friend Notifications
- Find paired controllers within communication range by activating the vibration feature
To search, head to Controllers > Find Controllers
- Change the user icon order on the Home Menu
To change order, head to System Settings > Users > Change Order
- Select from 6 new Splatoon 2 characters for user icon
To edit your user icon, head to your My Page on the top left of the Home Menu > Profile
- Change the system volume from the Quick Settings
To access Quick Settings, hold down the HOME Button
- Lower the maximum volume for headphone or speakers connected to the audio jack
To lower the max headphone volume, head to System Settings > System > Lower Max Headphone Volume
* This settings will be ON when Parental Controls are enabled
- Change display colors to Invert Colors or Grayscale
To use this feature, head to System Settings > System > Change Display Colors
- Use the Nintendo Switch Pro Controller via wired communication by connecting the USB charging cable
To enable, head to System Settings > Controllers and Sensors > Pro Controller Wired Communication
* The NFC touchpoint on the Pro Controller will be disabled while the controller is using wired communication.
- Update connected controllers
To update, head to System Settings > Controllers and Sensors > Update Controllers
- Added a feature that suggests deletion of software data if there is insufficient space when downloading other software
To use this feature, head to System Settings > Data Management > Quick Archive
* User save data is not deleted
General system stability improvements to enhance the user's experience, including:
- Resolved an issue that caused game software updates to fail and prevented the software from starting
- Improvements to prevent unintended HDMI input change with certain TVs while the console is docked in Sleep Mode
Performing the System Update:
In most situations, the Nintendo Switch will automatically download the most recent system update while it is connected online. You can verify your current menu version and manually start the update from the System Settings menu if necessary. If you are unable to perform the system update, restart your console and try again.
Source: Nintendo Switch System Updates and Change History