Completely agree. If this is the final design (and praying to god it isn't) it looks horrible.
I think, as a direct result of the Apple lawsuits, Google is determined that all of their nexus devices avoid the "rounded rectangle" look. Which is really annoying because for a touch screen device that shape makes sense, looks simplistic, and looks good.
I have a galaxy nexus and I think it looks fine. But I was really disappointed to see the LG Nexus follow the same rounded top and bottom and I'm even more disappointed to see the Nexus 10 follow that same design.
It is hideous and as a loyal Android user it makes me want to pick up an iPad out of spite...More probably I will just pick up a nexus 7 at some point because I am still not completely convinced I need a tablet in the first place.