Publishable with revisions
The solution -- as in so many cases in life -- is to communicate. In this case, write to the editor in charge and ask what happened here and how they intend you to proceed. Like @Buffy mentions, it is likely that the second round of the paper went to different reviewers. This is not entirely uncommon, but awkward anyway -- the editor should have looked for substantive reviews the first time around already, rather than just go with the typo fixes. But it happens, among other reasons because a reviewer who promised a review just doesn't get it done, and the editor feels the need to go with what they have -- just to receive the missing review a week later.