What is the difference between Baki (Netflix) and Baki the Grappler?

Do I have to have seen the old Baki to understand the new one or is it just a new edition or what?

Baki the grappler has to be seen before watching the Netflix version. You could compare it to naruto, so you watch Naruto or Naruto classic before you watch Naruto Shippuden and the same thing with Baki is first baki the grappler and then the Netflix version.