Pope Paul VI did not change the matter and form. He slightly modified the wording however the sense is still the same. The substance - what the sacrament is - was not changed.
The Form of the new version reads as follows: "by this holy unction and His pious mercy, may god help you by the grace of the holy spirit, in order that, delivered from your sins, God may save you and restore you to his goodness."
The original wording was far better however the change of phrasing does not invalidate it. The essential meaning is still there and it is very similar to the scriptural meaning of James 5:14–15.
Canon 841: "since the sacraments are the same for the whole church and belong to the divine deposit, it is only for the supreme authority of the Church to approve or define the requirement for their validity..."
Ahh Boru, Boru, Boru, what are we going to do with you?
Just because PPVI did not come right out and say he was doing away with one sacrament and replacing it with another of his own invention, you do not believe that is what he actually did, he actually did that - and he gave it a new name as well, he called it
The Sacrament of the Anointing of the Sick.
Now if you do not see this as two different sacraments, then I do not know what else to say.
The NO Breviary says:The priest anoints the sick person with blessed oil.
"Free him/her from sin and all temptation" and in another place: "May the Lord who frees you from sin save you and raise you up."
In the Catholic Breviary it says:Then, dipping his thumb in the holy oil, he anoints the sick person in the form of a cross in the parts here inscribed, adapting the words to their proper place; in this manner:
To the Eyes: Through this holy anointing and his most pious mercy, may the Lord forgive you whatever you have committed by sight.
To the Ears:Through this holy anointing and his most pious mercy, may the Lord forgive you whatever you have sinned by hearing.
To the Nose:Through this holy Anointing and His most pious mercy, may the Lord forgive you whatever you have sinned through the perfume.
To the Mouth: Through this holy anointing and his most pious mercy, may the Lord forgive you whatever you have sinned in taste and speech.
To the Hands:Through this holy anointing and his most pious mercy, may the Lord forgive you whatever you have sinned by touch.
At the Feet:Through this holy anointing and his most merciful mercy, may the Lord forgive you whatever you have sinned in your walk.