I thought their branding was pretty good before they did this. I find the app icon particularly mystifying.
I personally don't like the work too much but I get why they had to rebrand. The biggest challenge I see is the disconnect between what their internal culture appears to be to us techies (extremely cutthroat, willing to bend rules to sabotage competitors) vs. the brand they present to the world (we love kittens, we move cities).