I agree its ugly, the DS design similarities cant be avoided as they dont have an industrial designer, they cant afford the slide screen config so clamshell is really the only choice. The DS lite design is pretty practical and common sense for something this size so it would take more effort to make something different. Hopefully future revisions will have a more attractive exterior.
That said the hardware specs and gaming layout for its size really kick arse and the gp32/gp2x scene has some very talented coders so I can see this becoming the emulation and homebrew console to own at least until something more powerfull comes out.
I will probably be getting one if it takes off in the gp32/gp2x scene which it most likely will. Expect delays and bugs though as its just a group of gp2x distributors and a hardware guru that designed it with input from the scene.
Manufacture will be done by chinese contractors so hopefully quality doesnt suffer too much.