Adobe Premiere Elements 2024 - contrast - problem?

I can see that setting of contrast in 1) Adjustments and in 2) Effects gives completely different results.

I would even say that changing of contrast using 2) Effects is not working at all as it changes rather brightness and not the contrast. I need to use Effects to change a contrast since only Effects can be saved as preset (as far as I know)

This video shows that I mean:  https://youtu.be/x5enHn4a4No

Besides, I can see that all sliders in APE2024 are not working smoothly compared to APE2021. It is very noticeable.