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Yes, that link is gone in the new UI. Now, the only default way to go to View Mode is to use the 'View on website' link in the Options context menu for a page.

Going to preview still leaves you inside the CMS, and there's no possibility to see URLs etc like you would as a normal visitor.
Seriously when is this coming back? has anyone made an addon?
EDIT: Yes, google "novacare put the globe back in episerver" (forum won't let me post links)
As Simon mentioned, I tried to put the globe back: https://blog.novacare.no/put-the-globe-back-in-episerver/
It's not perfect, and I'm not too familiar with dojo stuff - any input on how to improve is very welcome.
We used this link all the time to view the current page outside of the CMS. Where did it go? If it was taken away, please add it back in the next update. This link was vital.