@Rag what I understood from Wolfheart's video but I may be wrong and maybe the "option" is the original rules.
That's how I imagine things now, but maybe The Red Queen can clarify that.
With the usual caveat that I had limited time and could easily have missed stuff, it did indeed look as though every race had flexible +2/+1 to abilities plus racial feats, so while it would be possible to replicate some PHB races with that setup as they have +2/+1 anyway, for others (like humans and half-elves) it might not be possible. I certainly didn't see an option to accomplish that, though I was making a halfling so didn't spend long looking.
Eagle-eyed PFH watchers have spotted that humans seem to have acquired a polearm proficiency to compensate for the fact they're losing effectively 3 ability points, though it's not clear if that's configurable. And it's not clear what if anything half-elves or other races are getting for losing points either.
I very much want more info on this too, and if it turns out it's not possible to replicate all PHB starting setups (as it currently seems) then I'm not at all sure I approve. I'll get over it, I'm sure, but like others would prefer it if this new approach were optional for every race, not just some.
