You may have noticed when creating a new Scrum team project in Visual Studio Online or Team Foundation Server 2015, that the iteration list looks a bit different. Yes, Microsoft flattened out the list of iterations, listing only sprints and no more releases:
Previously, new team projects created using the Scrum process template would have default iterations like this:
I guess some customers had given feedback that by seeing release nodes in the iteration list it gave a false assumption that TFS/VSO supported release planning, which it doesn’t.
If you miss the release nodes (as much as I do) then you can manually recreate them. It’ll just take time.