Why would a different accelerometer surprise you? The entire SiP is different between the Series 3 and Series 4. One source say the accelerometer in S4 has higher dynamic range. [0]
For battery life concerns, I can see them implementing some of the fall detection logic in hardware as well. For example, a high shock or shaking could trigger the fall-detection software to wake. Although, with the 60-second period, they probably wake the main processor often enough anyway that hardware detection might not save much power.
(I would be very surprised if the series 3 and 4 have significantly different accelerometer hardware)