I'm okay with the design. The real problem is that it just doesn't look familiar, so many photographers won't "connect" with it, and simply call it fail.
It's a kind of mistake to have a designer redesign almost from the ground up an object that had it's design iterated so many times and for so long. It's the same mistake that happens with architects: they thrown all the popular wisdom about how people have been living for thousands of years, and
just build a weird house that leaks water in the name of aestethic. There are some good points the design (I like the some of the button layout), but some other things are too unusual (the mode dial position, and the "hump" it adds to the camera body).
A K1000-like design would suit this better, specially now that retro is the new fad - and with a point, since old cameras ergonomics were pretty good.