Performance review season... feels more intense than usual.

Is it just me, or have the performance reviews this year felt like a completely different ballgame? My manager's been way more critical than in past years, pointing out minor things I honestly thought were acceptable before. It's not just my review either, I've overheard colleagues in other teams expressing similar sentiments. It feels like there's a much lower tolerance for anything less than stellar, and even 'exceeds expectations' feels harder to achieve. I'm wondering if this is a precursor to something. Historically, when things get tight or the company is restructuring, performance reviews tend to get harsher as a way to identify potential 'underperformers.' Is this just the normal annual grind, or is anyone else picking up on a more... strategic intensity behind these reviews? Trying to prepare myself and figure out if I need to be worried or just buckle down harder. Curious to hear what others are experiencing.