For context, they're both identical except for 2 things.
Eladrin gives +2 DEX and +1 CHA Eladrin (Variant) gives +2 DEX and +1 INT
Personally I'd consider those equal. But here's the thing I don't get.
Both get misty step as a racial feature, on a short rest. However the regular Eladrin gets an upgraded version at level 3
When you reach 3rd level, your Fey Step gains an additional effect based on your season; if the effect requires a saving throw, the DC equals 8 + your proficiency bonus + your Charisma modifier:
Autumn. Immediately after you use your Fey Step, up to two creatures of your choice that you can see within 10 feet of you must succeed on a Wisdom saving throw or be charmed by you for 1 minute, or until you or your companions deal any damage to it.
Winter. When you use your Fey Step, one creature of your choice that you can see within 5 feet of you before you teleport must succeed on a Wisdom saving throw or be frightened of you until the end of your next turn.
Spring. When you use your Fey Step, you can touch one willing creature within 5 feet of you. That creature then teleports instead of you, appearing in an unoccupied space of your choice that you can see within 30 feet of you.
Summer. Immediately after you use your Fey Step, each creature of your choice that you can see within 5 feet of you takes fire damage equal to your Charisma modifier (minimum of 1 damage).
Why doesn't the Variant version get something like this? It's just strictly worse?
The Eladrin (Variant) is the original version published in the DMG.
The Eladrin (non-variant) was published more recently, in Mordenkainen's Tome of Foes.
DNDBeyond supports the variant version for those players who created an Eladrin after the publication of the DMG and before MToF was published.
I wouldn't expect anybody to use the Variant version unless they had created an Eladrin a long time ago, and as a DM I would allow them to upgrade to the newer Eladrin version.
Because the variant was just an example of making your own subrace in the DMG, just like variant Aasimar was an example of making your own separate race
Eladrin (Variant) has Elf Weapon training, the Eladrin has the Fey Step enhancement. Using the variant would be very situational. For instance, after Tasha's, someone playing a non-kensi monk might want to have the advantages of a short-rest Fey Step and have access to the long sword for their monk weapon (monk weapon option and +1 int swapped for +1 wis per Tasha's). Again, it's situational.
I would also add! the MToF Eladrin does NOT get misty step. its reeeeally close though!
DMG eladrin's fey step property says (paraphrased) "can cast misty step once/Short rest". This means if they use it, the only spell they can cast afterwards would be a cantrip (casting through a racial feature is still casting a spell) because of the "casting a spell with the casting time of bonus action" rule
MToF feystep says "can teleport 30 ft as a bonus action once/Short rest" which is ALMOST the same since it does the same thing as misty step, but it doesn't have the constraints of being a spell that was cast, so teleport --> fireball can be done!
For context, they're both identical except for 2 things.
Eladrin gives +2 DEX and +1 CHA
Eladrin (Variant) gives +2 DEX and +1 INT
Personally I'd consider those equal. But here's the thing I don't get.
Both get misty step as a racial feature, on a short rest. However the regular Eladrin gets an upgraded version at level 3
When you reach 3rd level, your Fey Step gains an additional effect based on your season; if the effect requires a saving throw, the DC equals 8 + your proficiency bonus + your Charisma modifier:
Autumn. Immediately after you use your Fey Step, up to two creatures of your choice that you can see within 10 feet of you must succeed on a Wisdom saving throw or be charmed by you for 1 minute, or until you or your companions deal any damage to it.
Winter. When you use your Fey Step, one creature of your choice that you can see within 5 feet of you before you teleport must succeed on a Wisdom saving throw or be frightened of you until the end of your next turn.
Spring. When you use your Fey Step, you can touch one willing creature within 5 feet of you. That creature then teleports instead of you, appearing in an unoccupied space of your choice that you can see within 30 feet of you.
Summer. Immediately after you use your Fey Step, each creature of your choice that you can see within 5 feet of you takes fire damage equal to your Charisma modifier (minimum of 1 damage).
Why doesn't the Variant version get something like this? It's just strictly worse?
The Eladrin (Variant) is the original version published in the DMG.
The Eladrin (non-variant) was published more recently, in Mordenkainen's Tome of Foes.
DNDBeyond supports the variant version for those players who created an Eladrin after the publication of the DMG and before MToF was published.
I wouldn't expect anybody to use the Variant version unless they had created an Eladrin a long time ago, and as a DM I would allow them to upgrade to the newer Eladrin version.
Because the variant was just an example of making your own subrace in the DMG, just like variant Aasimar was an example of making your own separate race
Eladrin (Variant) has Elf Weapon training, the Eladrin has the Fey Step enhancement. Using the variant would be very situational. For instance, after Tasha's, someone playing a non-kensi monk might want to have the advantages of a short-rest Fey Step and have access to the long sword for their monk weapon (monk weapon option and +1 int swapped for +1 wis per Tasha's). Again, it's situational.
I would also add! the MToF Eladrin does NOT get misty step. its reeeeally close though!
DMG eladrin's fey step property says (paraphrased) "can cast misty step once/Short rest". This means if they use it, the only spell they can cast afterwards would be a cantrip (casting through a racial feature is still casting a spell) because of the "casting a spell with the casting time of bonus action" rule
MToF feystep says "can teleport 30 ft as a bonus action once/Short rest" which is ALMOST the same since it does the same thing as misty step, but it doesn't have the constraints of being a spell that was cast, so teleport --> fireball can be done!
Woo, so a raging barbarian MToF Eladrin could teleport without issue... Neat.