Racers and fast club riders who want the modern Tarmac. If you came off an SL7, check that the stack/reach still matches your size.
The current Specialized race bike: lighter than SL7, still aero, and famously 'it just disappears' if the fit is right. Size by stack/reach — the 54/56 split is where a lot of riders hop.
Racers and fit riders who want Giant's race geometry without Propel's deep tubes.
Giant's lightweight race bike: compact sloping top tube, sharp steering, and a fit that has been a stack/reach reference for a long time. Less aero drama than Propel.
Riders shopping the newest Tarmac. Compare stack/reach to SL8 before you assume your size letter carries over.
The next Tarmac generation in the catalog window. Treat it as the race-bike successor to SL8: same family, new tubeset — confirm geometry on the year page rather than assuming SL8 numbers.