I don't think I'd even mind so much if it weren't transparent, but it's pretty repulsive.
As some other commenters noted, the site tries really hard as well but 1300-px-wide content is awful in any light. It's just form, not function, but the irony from a site that pushes the uniform display of email and uses (web and email) resolutions that most users can't see without scrollbars isn't helping the message any.