This Pepsi redesign is just particularly (spectacularly) bad. There are plenty of brand briefs which are intelligent, strategic and grounded in reality.
Most of the time modernizing the logotypes and fonts to make them simpler does not work, but here someone came with a coherent strategy that simply looks good and is distinct enough.
https://medium.com/look-and-logo/a-closer-look-at-the-premie...