Is't the conventional knurling just another form of machining? They both seem to be machined.
Sure, but without traditional cutting. Old fashion, knurling like in the bottom picture (still the most common) is high pressure, cold formed with a knurling tool, on a lathe. It squeezes and shapes the metal into that pattern. The diamond patterns will all look very similar until you look at them under a loupe, at which point you'll see the inconsistent topography of the surface.
The knurling in the top picture is CNC cut and usually provides perfect diamonds, all perfectly symmetrical. A ball nose milling bit is usually used and the pattern is typically wider than cold formed knurling.