While I'm not necessarily a fan, I don't think it looks any worse than it's competition. In fact, to me it looks like Subaru is trying to make the new Outback look more mainstream. Now it is just as boring as the Toyota and Hyundai and others, that it competes against.
I just looked at the press release pics, to get a better idea of what it looks like. Except for all the plastic trim, it really doesn't look to bad to me. It looks a lot like they were trying to make it look like full sized domestic SUV's, and it does that. But the excess plastic trim does need to go.