The U.S. Geological Survey (USGS) archive of Earth images acquired by Landsat 1-8 sensors is organized in collections of consistently calibrated, geolocated, and processed data products. Such an organization ensures consistent quality of the archived data within a collection over time and across all instruments within the Landsat mission. In December 2020, the USGS completed reprocessing of the archived Landsat data and released a new collection, Collection 2, which introduced surface reflectance and surface temperature Level-2 products, implemented improved ground control and elevation datasets, and brought several geometric and radiometric calibration enhancements. Radiometric enhancements include absolute and relative gain updates for both imaging sensors, Operational Land Imager (OLI) and Thermal Infrared Sensor (TIRS), aboard Landsat 8 and a change in calculation of bias for OLI. In this paper we present the analysis of Collection 2 Landsat 8 products demonstrating stability over the mission lifetime, the improvement in OLI signal to noise ratio and along-track striping performance resulting from enhanced bias correction, as well as reduction of cross-track striping in TIRS data as a result of relative gain updates. In addition, we discuss effects of two safehold events that Landsat 8 experienced in November 2020 on the radiometric calibration of both sensors and product performance.