It's really not that simple IMO.

If you look at the earlier mockups, they were just as good if not better. I also think they chose the wrong logo from the earlier mocks.

If you are smaller team/org/business, I'd highly recommend just move as quickly as possible with the agency. Less opportunity for scope creep from them and let the creatives rock and roll. They will, without a doubt, want the project done as fast as possible. They will also produce the same work in 1 vs vs 2 vs vs 3 months.

If you are bigger team/org/business, usually you are buying the "process" or "experience". So it's all mute and a team thing.

If you are looking for both, you'll fail like they did here.