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TL;DR: Apple's latest iOS release addresses the default browser and mail app bug that reverted user settings to Apple's Mail and Safari clients upon device reboot. The update also fixes camera previews for older iPhones, Wi-Fi connectivity and email issues as well as the Apple News widget that would fail to load content.
iOS 14 feels like a bigger software update and visual refresh than most of Apple's yearly iterations, thanks to the addition of improved, highly customizable widgets, an App Library, and refined UIs for various functions that have given Apple's iPhones a much-needed facelift. It's also given device owners a solid reason to upgrade, a quarter of whom have transitioned to iOS 14 just five days after its release.
While it's looking like a smooth ride so far, iOS 14 did come with a few bugs to go along with its many new features. One of these bugs was resetting user default app preferences upon device reboot. Apple has now fixed this issue in iOS 14.0.1 in the ~170 MB patch that comes a week after the bug's discovery.
The minor patch contains fixes for the iPhone 7 and iPhone 7 Plus that were having problems with displaying camera previews. It also addresses Wi-Fi connectivity and email issues that could prevent sending messages with some mail providers. Apple's misbehaving News widget that would sometimes appear blank has also been fixed in this update.
Additionally, Apple released iPadOS 14.0.1 with the aforementioned fixes, watchOS 7.0.1 (Wallet fix), tvOS 14.0.1 (general performance and stability improvements), and macOS Catalina 10.15.7 to address Wi-Fi auto-connect issues on Apple PCs, file syncing through iCloud Drive, and a graphics fix for the Retina 5K iMac with the Radeon Pro 5700XT.