This is a result of the fact that your projects most likely don't have dates assigned to them (not even sure that was an option in the old system) so they all end up crammed at the top of the timeline. Once you fill in an approximate launch date for each project (or whatever you feel is most appropriate), the timeline should start to look a little more sensible.

That said, I'm still not a big fan of the new look. I also prefer the apps section at the end rather than mixed in with my employment history.