I think Felipe has modernized a lot in the ways things are being done now, something other royal houses have been doing for a long time (using the latest technology, social media, trying to promote women and erase nepotism etc etc) in order to get a better link to their people. They are trying to make it more open, transparent or up to date as opposed to the closed military type of household Juan Carlos still kept, as he's from a different generation.
The question is, will all of this help to make people support an undemocratic institution. Even though Felipe gets good remarks, I don't believe that the figure of the King is bigger than political dynamics. I've said it before, maybe it is Felipe's purpose to give full democracy to Spain and smooth the way for an elected president in the end.